Coachmen Industries, Inc. Issues Clarification on Recent Appointment.ELKHART, Ind. -- On January 31, 2007, Coachmen Industries, Inc. (NYSE NYSE See: New York Stock Exchange : COA (Certificate Of Authenticity) A document that accompanies software which states that it is an original package from the manufacturer. It generally includes a seal with a difficult-to-copy emblem such as a holographic image. ) issued a News Release regarding the appointment of Art Breitenstein as Vice President of Sales and Marketing for the Company's Housing and Building Group. The News Release indicated that Mr. Breitenstein was previously in charge of sales and recruiting at Norse Building Systems, Inc. of Ladysmith, Wisconsin. Coachmen issues the following clarification: Mr. Breitenstein's position was District Sales Manager for Norse Building Systems, Inc., under the supervision of Mr. Phil Swanson, the Vice President of Sales and Marketing, who remains with Norse. Coachmen Industries, Inc., through its prominent industry subsidiaries, is one of America's leading manufacturers of recreational vehicles, systems-built homes and commercial buildings. The Company's well-known RV brand names include COACHMEN([R]), GEORGIE BOY([R]), SPORTSCOACH([R]) and VIKING([R]). Coachmen's ALL AMERICAN HOMES [1] Photo Gallery subsidiary is one of the nation's largest producers of systems-built homes, and also a major builder of multi-family residential and commercial structures with its ALL AMERICAN BUILDING SYSTEMS([R]) products. Coachmen Industries, Inc. is a publicly held company with stock listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE) under the ticker COA. This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned not to place undue reliance on forward-looking statements, which are inherently uncertain. Actual results may differ materially from that projected or suggested due to certain risks and uncertainties including, but not limited to, the potential fluctuations in the Company's operating results, increased interest rates the availability for floorplan financing for the Company's recreational vehicle dealers and corresponding availability of cash to Company, uncertainties and timing with respect to sales resulting from recovery efforts in the Gulf Coast, uncertainties regarding the impact on sales of the disclosed restructuring steps in both the recreational vehicle and housing and building segments, the ability of the company to generate taxable income Under the federal tax law, gross income reduced by adjustments and allowable deductions. It is the income against which tax rates are applied to compute an individual or entity's tax liability. The essence of taxable income is the accrual of some gain, profit, or benefit to a taxpayer. in future years to utilize deferred tax assets and net operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. carry-forwards available for use, the impact of performance on the valuation of intangible assets, the availability and the price of gasoline, price volatility of raw materials used in production, the Company's dependence on chassis and other suppliers, the availability and cost of real estate for residential housing, the supply of existing homes within the company's markets, the impact of home values on housing demand, the ability of the Housing and Building segment to perform in new market segments where it has limited experience, adverse weather conditions affecting home deliveries, competition, government regulations, legislation governing the relationships of the Company with its recreational vehicle dealers, consolidation of distribution channels in the recreational vehicle industry, consumer confidence, uncertainties of matters in litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , further developments in the war on terrorism Terrorist acts and the threat of Terrorism have occupied the various law enforcement agencies in the U.S. government for many years. The Anti-Terrorism and Effective Death Penalty Act of 1996, as amended by the usa patriot act and related international crises, oil supplies, and other risks identified in the Company's SEC filings. |
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