During a 10 a.m. conference call today with investors, Coachmen Industries president and chief executive officer Richard Lavers acknowledged his company has consolidated plants and cut more than 200 workers from the payroll but confidently said, "Coachmen will survive to prosper in a coming day."
The call reviewed the results for the second quarter 2008. For the three-month period that ended June 30, the manufacturer of recreational vehicles and modular housing posted a loss of $3 million.
In the second quarter, Lavers said, Coachmen reduced its workforce, companywide, by 261 people and further consolidated production of motorized RVs.
Lavers also hinted that additional layoffs may be coming but quickly clarified that any downsizing would be nothing like the recent Monaco Coach Corp. announcement of job cuts equaling 1,430 workers.
"I'm not being coy with language," Lavers said. "We are talking about minor adjustments, not major ones."
The combination of the collapse of the housing market, rising fuel prices and the banking crisis will keep Coachmen from having a robust year in sales and profits, Lavers said but the measures the company took in 2007 has "staunched the hemorrhage to a dribble and the healing process is well underway."
Story submitted by Yvonne of YES Mobile Catering, Inc. - Goshen, Indiana
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