More good news

[Jestme13]

To me, it looks like NRV is planning to be around for the long haul. Bringing in a good management team is a very positive move, and should make all of National RV's loyal followers much more comfortable.

BREAKING NEWS
National RV Appoints Humphreys as Chairman
RV Business
Friday, June 1, 2007

Perris, Calif.-based motorhome builder National RV Holdings Inc. recently named David Humphreys, former president of the Recreation Vehicle Industry Association (RVIA), as its new chairman.

Humphreys replaces Doy B. Henley, who had served as chairman since September 2001.

"Dave is no stranger to our business, having served as a company director since February of last year,"� said Brad Albrechtsen, president and CEO of National RV Holdings. "And he's certainly no stranger to the RV industry. He's going to hold us accountable and help us get things done. I can't think of anyone more qualified to lead the charge for National RV as we head into the future with all of our innovations and plans for success."�

In conjunction with Humphreys' appointment, Len Southwick was named to the board. Southwick, president of subsidiary National RV Inc. since September of last year, joined the firm as vice president of customer service after a lengthy career in the retail automotive industry.

"I hold Mr. Southwick in high regard for what he and his team have accomplished over the past year-and-a-half under very difficult circumstances, and look forward to his expanded contribution now as a member of the company's board," Humphreys said.

He added, "This company has been through some very difficult times in recent years. I believe that with Doy Henley's leadership, the company has overcome almost all of the problems it's been facing. Our future is very bright, and I look forward to it with great excitement and enthusiasm."

Humphreys was president of the RVIA from 1979 to 2006 and during his tenure became the industry's leading spokesman. Prior to 1979 he served for nearly 10 years as RVIA's outside legal counsel.

In addition to his prior service as president of RVIA, Humphreys has been active for many years in the Travel Industry Association of America (TIA) and was the leading force in the creation of the American Recreation Coalition (ARC).

Humphreys, who resides in Shepherdstown, W.Va., was inducted into the RV Hall of Fame in 1997. Since his retirement, he has been practicing law and acting as a consultant to various organizations, including RVIA.

[Jestme13]

To me, it looks like NRV is planning to be around for the long haul. Bringing in a good management team is a very positive move, and should make all of National RV's loyal followers much more comfortable.

BREAKING NEWS
National RV Appoints Humphreys as Chairman
RV Business
Friday, June 1, 2007

Perris, Calif.-based motorhome builder National RV Holdings Inc. recently named David Humphreys, former president of the Recreation Vehicle Industry Association (RVIA), as its new chairman.

Humphreys replaces Doy B. Henley, who had served as chairman since September 2001.

"Dave is no stranger to our business, having served as a company director since February of last year,"� said Brad Albrechtsen, president and CEO of National RV Holdings. "And he's certainly no stranger to the RV industry. He's going to hold us accountable and help us get things done. I can't think of anyone more qualified to lead the charge for National RV as we head into the future with all of our innovations and plans for success."�

In conjunction with Humphreys' appointment, Len Southwick was named to the board. Southwick, president of subsidiary National RV Inc. since September of last year, joined the firm as vice president of customer service after a lengthy career in the retail automotive industry.

"I hold Mr. Southwick in high regard for what he and his team have accomplished over the past year-and-a-half under very difficult circumstances, and look forward to his expanded contribution now as a member of the company's board," Humphreys said.

He added, "This company has been through some very difficult times in recent years. I believe that with Doy Henley's leadership, the company has overcome almost all of the problems it's been facing. Our future is very bright, and I look forward to it with great excitement and enthusiasm."

Humphreys was president of the RVIA from 1979 to 2006 and during his tenure became the industry's leading spokesman. Prior to 1979 he served for nearly 10 years as RVIA's outside legal counsel.

In addition to his prior service as president of RVIA, Humphreys has been active for many years in the Travel Industry Association of America (TIA) and was the leading force in the creation of the American Recreation Coalition (ARC).

Humphreys, who resides in Shepherdstown, W.Va., was inducted into the RV Hall of Fame in 1997. Since his retirement, he has been practicing law and acting as a consultant to various organizations, including RVIA.

[RV 4 2]

That is really cool to see. Thanks for posting this.

[Kernel]

Spent several hours this a.m. with one of their former field techs and what a quality individual he is. Bottom Line: He had reason to believe - and was able to convince me - that the new mgmt team has one agenda; 1. to sell Natl RV for the best price or 2. Sell the land and move to Idaho where the land is cheap, labor even cheaper, and etc. Endstate of both those option are NATL is no longer HQ in SoCal.

Mr Humphreys has the legal knowledge to oversee a merger or sale. Why come out of retirement unless it was for a specific reason? To help NRV get back on track? I don't think so. He could have done that as a consultant with the time and responsibility constraints.

Mr Albrechtsen's home is for sale.

Yes, I suppose the gentleman I spoke with today could verifiably be quantified as biased. But he sure seemed like he knew what he was talking about.

RV business would rather sell advertising than 'dig' into the depths of a story looking for something they'd rather not know about.

[edgray]

Here is the latest from RV BUsiness Magazine on the subject of this thread:


NRV Incurs 2Q Loss, Humphreys Named CEO
RV Business
August 14, 2007

National RV Holdings Inc. reported a net loss in the company's second quarter and six months, ended June 30, while also announcing the appointment of Chairman David Humphreys as interim CEO, replacing Brad Albrechtsen whose resignation will take effect Aug. 31.

Sales for the quarter fell 42.5% to $23.4 million from $40.6 million a year ago. The Perris, Calif.-based motorhome builder, parent to National RV Inc., reported a net loss of $8 million compared with $12 million the previous year.

For the six months, sales were down 52.5% to $45.3 from $95.3 million the previous year while the net loss totaled $7.1 million versus $9.2 million.

National RV noted that net losses for the quarter and six months reflected a $7.3 million gain on the sale of subsidiary Country Coach Inc. and a $2.4 million loss reported by the discontinued operation during the first quarter of 2007.

"Continued cost-cutting efforts announced in our last earnings release and carried out during the second quarter, were mostly offset by high discounts and incentives to move model-year-end inventories, by inefficiencies related to manufacturing and launching new model-year products and by high legal costs associated with the company's lawsuit against a supplier," said Humphreys, former president of the Recreation Vehicle Industry Association.

"On the positive side," continued Humphreys, "there was no further erosion in sales, and 2008 model-year products are now out into the marketplace, including the completely redesigned Sea Breeze gas and Tropi-Cal diesel motorhomes. The company signed several new dealers during the second quarter and the 2008 model-year products are being well received, which is resulting in planned increases in its build rate."

The company reported gross loss margins from continuing operations for the second quarter and six months of 17.6% and 19.6%, respectively, due to significantly lower sales volumes and associated lower production rates.

END OF ARTICLE

[Jestme13]

well, we'll all keep hoping for the best. How are the industry figures doing Ed ?

[edgray]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">How are the industry figures doing Ed ? </div></BLOCKQUOTE>
Well Steve, I guess the answer to your question MAY be found in the following article, courtesy of RV Business:

BREAKING NEWS
Stat Surveys: June Motorized Sales Down 4.1%
RV Business
August 15, 2007

A 10.1% decline in June Class A motorhome sales offset slight improvement in the Class C market as overall motorized registrations were down 4.1% from a year ago.

The results represented a flip-flop from May when a sharp decline in Class C sales pulled down the motorhome retail market.

According to Grand Rapids, Mich.-based Statistical Surveys Inc., overall motorhome registrations in June totaled 5,079 units versus 5,297 last year. For the six months, motorized sales fell 6.2% to 26,090 units from 27,818 in 2006.

June Class A registrations dropped to 2,789 units from 3,101 the previous year while year-to-date the market was down 6.2% with 16,053 units sold compared with 17,108. Class A gas motorhome sales in June fell 9.4% from a year ago and diesel registrations decreased 10.7%.

According to the Recreation Vehicle Industry Association (RVIA), June shipments of Class As were up 6.7%, perhaps indicating that wholesale deliveries are outpacing the retail market.

June Class C sales rose 4.3% to 2,290 units from 2,196 last year. For the six months, the sector declined 6.3% with 10,037 units sold compared with 10,710 the year prior. END OF ARTICLE

So Steve, it would appear the answer you get might depend on who you ask If I read it correctly, retail sales are still falling but shipments to the retailers are increasing. I'm sure some pundit will say that this indicates the dealers are optomistic about future sales and are increasing inventories to meet future demand. I hope this is the type info you were seeking. ED

[Jestme13]

Ed you are a wealth of knowledge. The point I was looking for is, the decline in NRV profits is not an exclusive issue to them. It seems others are suffering the same dilema. No doubt NRV is having trouble stabilizing itself in the market, but so are others. We here in the National thread are really pulling for them to solidify their position in the RV world and continue to produce.

I heard you may be attending the Hershey RV show in Sept, any truth to this rumor?

[edgray]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">any truth to this rumor? </div></BLOCKQUOTE>
Steve: I'll be there if a hurricane does not get here first! ED

[RV 4 2]

Well, it makes me feel good that I was a contributor to the Class A purchases last month with my new rig.
And best of all, with a National RV product.

Thanks Ed for the interesting news. Steve, I figured the whole industry was down and am glad to see it was not exclusive to NRV also.

[Jestme13]

It always pays to look at the big picture.

Ed, I'll look for you in Hershey, where are you staying?