Printer Friendly

CRUISE AMERICA REPORTS RECORD REVENUES

 CRUISE AMERICA REPORTS RECORD REVENUES
 MIAMI, Aug. 27 /PRNewswire/ -- Cruise America, Inc. (AMEX: RVR)


today announced record revenues for the first quarter ended July 31, 1992 of $29,955,000, up 31 percent from the $22,867,000 reported for the same period last year. Net earnings for the quarter was $4,096,000 or $.74 per share in 1992 compared to $3,734,000 or $.67 per share in 1991.
 The revenue increase was generated mainly by Cruise America's sales division (RV Depot(R)). Sales and sales service revenue increased 145 percent, rental vehicle sales increased 131 percent and rental revenue increased 3 percent.
 Commenting on the first quarter results, Randall Smalley, president, stated, "In 1991 a decision was made to expand our sales operations through the development of the RV Depot network. I am pleased to report substantial sales increases as a result of this investment. Sales of new, used and rental vehicles contribute to short term profitability but more importantly, help speed fleet rotation which contributes to long term profitability. We are continuing to expand the RV Depot network, and will add three new locations in September. We are optimistic that sales and rentals will continue to expand adding to the company's profitability."
 Cruise America, Inc. is the largest company in North America specializing in the sale and rental of recreational vehicles.
 CRUISE AMERICA, INC.
 FINANCIAL AND OPERATING HIGHLIGHTS
 JULY 31, 1992
 Quarter Ended July 31,
 1992 1991
 Total Revenue $29,955,000 22,867,000
 Gross Profit from
 Operations 12,790,000 12,265,000
 Net Earnings 4,096,000 3,734,000
 Earnings Per Share .74 .67
 Average Shares Outstanding 5,541,000 5,534,000
 Average Rental Fleet 3,821 3,364
 Revenue Days 167,021 175,121
 -0- 8/27/92
 /CONTACT: Eric R. Benson, chief financial officer of Cruise America, Inc., 305-262-9611/
 (RVR) CO: Cruise America, Inc. ST: Florida IN: LEI SU: ERN


AW-SS -- FL007 -- 3983 08/27/92 13:50 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 27, 1992
Words:330
Previous Article:BURLINGTON ENVIRONMENTAL ACQUIRES MIDWESTERN TREATMENT FACILITY
Next Article:BUILDERS SQUARE REPORTS SEVEN OF EIGHT MIAMI STORES FULLY OPERATIONAL; NEW DISTRIBUTION SYSTEMS AID IN RESTOCKING
Topics:


Related Articles
CRUISE AMERICA ANNOUNCES RESULTS
CARNIVAL CRUISE LINES REPORTS RECORD FIRST QUARTER EARNINGS
CRUISE AMERICA REPORTS RESULTS
CRUISE AMERICA ANNOUNCES RESULTS
CRUISE AMERICA REPORTS RECORD EARNINGS
CARNIVAL REPORTS RECORD THIRD QUARTER NET INCOME
CRUISE AMERICA, INC. ANNOUNCES RESULTS
CRUISE AMERICA ANNOUNCES EARNINGS
CRUISE AMERICA'S EARNINGS RISE 53% DURING FIRST NINE MONTHS OF FY1996
Cruise America Announces Higher Revenues and Record Earnings for First Quarter of FY1997

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters