Holiday RV SuperStores Announces Increased Earnings
26 January 1998
Holiday RV SuperStores Announces Increased Earnings
ORLANDO, Fla., Jan. 26 -- Holiday RV SuperStores, Inc.
announced today earnings increased 4% to $1,386,597 for fiscal
year ended October 31, 1997, up from $1,331,932 last fiscal year. Revenues
decreased 9% to $68 million for fiscal '97, from $74.8 million in fiscal '96.
"Our earnings exceeded last year's despite lower revenue, primarily due to
our focus on increasing gross profit margins and keeping sales and marketing
expenses inline with our profit goals for the year," stated Newton C.
Kindlund, President and CEO. Kindlund added, "We are pursuing expansion
opportunities in the Western States where our margins are the strongest, as
well as the expansion of the motorized segment of our product lines.
Additionally, we have increased the used vehicle segment of our business."
Effective January 12 the Company announced up to a $1 million common stock
open market repurchase initiative through Prudential Securities, as a result
of the Company's Board of Directors feeling the current stock pricing offers a
unique opportunity to increase shareholder value.
The Company's common stock trades on the Nasdaq National Market under the
symbol RVEE and is listed in most newspapers under Holiday RV. Detailed
financial information on fiscal year '97 earnings will be available February
1, by contacting Investor Relations, Holiday RV SuperStores, Inc., 7851
Greenbriar Parkway, Orlando, Florida 32819, 407-363-9211, or fax
407-363-2065, or through their web page at http://www.holidayrv.com .
Year Ended Year Ended
October 31, 1997 October 31, 1996
Total Revenue $67,988,270 $74,763,980
Operating Income $3,180,184 $3,273,140
Net Income $1,386,597 $1,331,932
Common Shares Outstanding 7,439,316 7,524,290
Earnings Per Share $.19 $.18
SOURCE Holiday RV SuperStores, Inc.