Holiday RV Superstores Reports Increased First Quarter '98 Earnings
16 March 1998
Holiday RV Superstores Reports Increased First Quarter '98 Earnings
ORLANDO, Fla., March 16 -- Holiday RV Superstores, Inc.
today announced earnings for its first quarter ending January
31, 1998 increased to $163,026 from $150,411 the prior year.
"Traditionally our first quarter represents our weakest quarter and
produces little profitability from year to year due to the cyclical nature of
our business," stated Newton C. Kindlund, President and CEO. "This year's
quarter however, was impacted by the 'El Nino' weather effect at our
California and Florida stores. Despite these conditions we achieved increased
first quarter results."
Holiday's revenue increased to $15,519,000 in fiscal '98 from $15,402,000
for fiscal 1997. The Company during this period experienced stronger new
motorhome revenues indicating a rebound in this business segment nationally.
The Company announced on January 12, 1997 a share repurchase program
of up to $1 million. As part of its strategy to increase stockholder value
the Company continues to repurchase its shares in the open market and expects
the repurchase program to continue through most of 1998.
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 first quarter earnings will be available March 18
after the Company's 10-Q filing, by accessing their web page at
http://www.holidayrv.com.
Holiday RV Superstores, Inc.
Quarter Ended Quarter Ended
January 31, 1998 January 31, 1997
Total Revenue $15,519,000 $15,402,414
Operating Income $501,300 $516,869
Net Income $163,026 $150,411
Common Shares Outstanding 7,421,300 7,450,600
Earnings Per Share $.02 $.02
SOURCE Holiday RV Superstores, Inc.