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Article: Cavalier Homes Expects Loss for Third Quarter.(Financial report)
- Article from:
- Business Wire
- Article date:
- September 5, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Company to Close One Manufacturing Line in Millen, Georgia
ADDISON, Ala. -- Cavalier Homes, Inc. (Amex: CAV) today announced that challenging market conditions continue to pressure the Company's revenue and gross margin in the third quarter. The expansion of gross margin is not expected to occur to the extent previously thought due to lower revenue and a lower production rate of homes for the Mississippi Emergency Management Agency (MEMA), which has been considerably more labor-intensive than expected. As a result of these and other factors discussed below, Cavalier does not expect to be profitable for the third quarter as previously anticipated.
The ...