Monaco Coach to lay off 317 in Elkhart

The Indiana Department of Workforce Development posts a WARN notice for Monaco Coach in Elkhart. It looks like the company will lay off 317 workers by Sept. 20.

Monaco Coach also released its quarterly earnings statement today:

Second quarter 2007 revenues were $335.3 million, up 4.4% compared to $321.3 million in revenues for the second quarter of 2006. The Company reported a higher gross profit of $36.6 million for the second quarter of 2007, compared to $30.5 million a year ago. Operating income for the second quarter of 2007 was $8.7 million, compared to $793,000 for the second quarter of 2006. Net income for the second quarter of 2007 was $4.5 million, compared to $372,000 a year ago. For the second quarter of 2007, diluted earnings per share were $0.15 versus $0.01 for the same period last year.

For the six months ended June 30, 2007, revenues were $657.6 million, compared to $706.4 million for the first half of 2006. The Company reported net income of $6.0 million for the recent six-month period, compared to $8.7 million for the same period in 2006. Earnings per share on a diluted basis for the first six months of 2007 were $0.20, compared to $0.29 for the same period last year.