THOUSAND TRAILS REPORTS THIRD QUARTER RESULTS
THOUSAND TRAILS REPORTS THIRD QUARTER RESULTS BELLEVUE, Wash., April 24 /PRNewswire/ -- Thousand Trails, Inc.
(NASDAQ: TRLS) today announced a net loss of $212,000, or ($0.01) per share, for the third fiscal quarter of 1992, which ended March 31, 1992, and net earnings of $746,000, or $0.03 per share, for the nine month period then ended. Aggregate revenues were $13,245,000 and $48,503,000 for the quarter and nine month period, respectively.
This compares to net earnings of $46,000 or less than $0.01 per share on total revenues of $18,015,000 for the quarter ended March 31, 1991, and net earnings of $691,000 or $0.03 per share on total revenues of $61,809,000 for the nine month period then ended. The loss in the current quarter was due primarily to lower sales revenues, higher selling and marketing costs as a percentage of sales revenues, and expenses relating to the restructuring of Thousand Trails' sales and marketing operations and debt. The improvement in the current nine month period resulted primarily from reductions in general and administrative expenses. As previously announced, Thousand Trails and National American Corporation ("NACO") have restructured their sales and marketing operations to conserve cash and develop new membership products on a test basis. As part of this restructuring, Thousand Trails and NACO anticipate that they will de-emphasize sales volume and emphasize the quality of new membership sales. Thousand Trails and NACO are both subsidiaries of USTrails Inc. Thousand Trails owns and operates one of the largest membership- based destination campground resort systems in the United States. The company operates a network of 39 campground resorts in 15 states and in British Columbia, Canada. -0- 4/24/92 /CONTACT: Walter B. Jaccard of Thousand Trails, 206-455-3155/ (TRLS) CO: Thousand Trails Inc. ST: Washington IN: LEI SU: ERN
TQ -- NY025 -- 2356 04/24/92 10:29 EDT
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|Date:||Apr 24, 1992|
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