Holiday RV SuperStores Reports Record Q1 Sales & Earnings
25 February 1999
Holiday RV SuperStores Reports Record First Quarter Sales & EarningsORLANDO, Fla., Feb. 24 -- Holiday RV SuperStores, Inc. , the Nation's largest recreational vehicle and marine chain retailer, announced today record earnings for the quarter ended January 31, 1999, of 6 cents per share, or $442,174 compared to 2 cents per share, or $163,026 for the same period last year. Revenue increased 17% to $18.2 million from $15.5 million last year, primarily from increased sales of the higher priced class A motorhomes. "Favorable economic fundamentals that fueled our sales and profits last year are continuing to increase demand for our products which are now sold worldwide over our website, holidayrv.com," states Newton C. Kindlund, President and CEO of the Company. Kindlund also explains, "During the quarter the Company sold its Atlanta property to Mercedes/Freightliner for $1.2 million and realized a gain of $317,000." Kindlund added, "Without this gain our net income increased 53% from the prior year." The Company's common stock trades on the Nasdaq National Market System under the symbol RVEE and is listed in most newspapers under Holiday RV. Detailed financial information on the quarterly earnings will be available March 18. Holiday RV Superstores, Inc. Quarter Ended Quarter Ended January 31, 1999 January 31, 1998 Total Revenue $18,182,994 $15,519,000 Operating Income $640,914 $501,300 Net Income $442,174 $163,026 Common Shares Outstanding 7,260,600 7,421,300 Earnings Per Share $0.06 $0.02