National Rv Holdings Inc

A group led by the founder of Perris-based National RV Holdings Inc. said it was offering about $92 million to buy the maker of recreation vehicles. Robert Lee, the company's chairman emeritus and founder, investment bank B. Riley & Co. and its affiliate, SACC Partners, said they made the proposal through CC Acquisition Group Inc., a newly formed entity. The group is offering $6.25 a share for the 85% of National RV Holdings not already owned by it or its affiliates.

National R.V. Holdings Inc. said in a regulatory filing Friday that founder Robert B. Lee had resigned from the board and that it disagreed with the contents of his resignation letter, in which he cites an "ongoing crisis" that he believes threatens the Perris, Calif., company's future. In a letter dated Monday, Lee wrote: "I have been largely unsuccessful in persuading the board to take any action to deal with the ongoing crisis of this company."

RV Maker to Buy Oregon Luxury Line: Perris-based National RV Holdings Inc.'s definitive agreement to buy Country Coach Inc. of Junction City, Ore., will expand its product line into the luxury market. The deal, whose terms were not disclosed, will combine National, which had sales of $89 million last year and profit of $3 million, with Country Coach, which had sales of $70 million and pretax income of about $2.8 million.

A group led by the founder of Perris-based National RV Holdings Inc. said it was offering about $92 million to buy the maker of recreation vehicles. Robert Lee, the company's chairman emeritus and founder, investment bank B. Riley & Co. and its affiliate, SACC Partners, said they made the proposal through CC Acquisition Group Inc., a newly formed entity. The group is offering $6.25 a share for the 85% of National RV Holdings not already owned by it or its affiliates.

National R.V. Holdings Inc. said its third-quarter loss would be wider than expected because of slow sales at the National R.V. Inc. recreational vehicle unit. The net loss will be about 35 cents a share, the Perris-based maker of Tradewinds and Country Coach motor homes said. Two analysts surveyed by Thomson First Call forecast a loss of 6 cents. Michael Jacque, president of the National R.V. unit and executive vice president of the parent, resigned, the firm said.

National R.V. Holdings Inc. said in a regulatory filing Friday that founder Robert B. Lee had resigned from the board and that it disagreed with the contents of his resignation letter, in which he cites an "ongoing crisis" that he believes threatens the Perris, Calif., company's future. In a letter dated Monday, Lee wrote: "I have been largely unsuccessful in persuading the board to take any action to deal with the ongoing crisis of this company."

Los Angeles-based Riley Investment Management has gone luxury shopping, buying high-end recreational vehicle maker Country Coach Inc. The investment firm will pay $38.8 million and assume $13 million in debt to purchase the subsidiary of Perris-based National RV Holdings Inc. The deal is expected to close this week. The RV industry has been reeling from high gasoline prices, but Junction City, Ore.

Companies with sales revenue of $50 million or more ranked by percentage increase in sales in 1996. The Gazelle 100 list on page 10 measures companies with sales from $10 million to $50 million. *--* 1996 1996 revenue revenue Rank Company (millions) % growth 1 Xylan Corp. $128 333% 2 Netscape Communications 346 310 3 Cymer Inc. 65 245 4 Osicom Technologies Inc. 81 201 5 Ascend Communications 661 196 6 Urohealth Systems Inc. 82 195 7 VISX Inc. 74 189 8 HS Resources Inc. 157 184 9 Calgene Inc.

A raging bull market and an economic recovery made 1993 a record year for initial public stock offerings, and dozens of California companies rejoiced as their share prices soared following their Wall Street debut. Companies from a broad range of industries shared in the prosperity, though technology firms led the pack, as in previous years.

The wheels are starting to come off the motor home manufacturing industry, as Fleetwood Enterprises Inc. illustrated again Wednesday. Fleetwood said it expects to post a loss for its fiscal first quarter ended July 30, because of sharply lower sales of recreational vehicles--especially motor homes--to dealers, and efforts by Riverside-based Fleetwood to cope by cutting its work force and taking other restructuring steps.

National R.V. Holdings Inc. said its third-quarter loss would be wider than expected because of slow sales at the National R.V. Inc. recreational vehicle unit. The net loss will be about 35 cents a share, the Perris-based maker of Tradewinds and Country Coach motor homes said. Two analysts surveyed by Thomson First Call forecast a loss of 6 cents. Michael Jacque, president of the National R.V. unit and executive vice president of the parent, resigned, the firm said.

RV Maker to Buy Oregon Luxury Line: Perris-based National RV Holdings Inc.'s definitive agreement to buy Country Coach Inc. of Junction City, Ore., will expand its product line into the luxury market. The deal, whose terms were not disclosed, will combine National, which had sales of $89 million last year and profit of $3 million, with Country Coach, which had sales of $70 million and pretax income of about $2.8 million.

Clorox Co., the largest U.S. maker of laundry bleach, said Thursday that its fiscal third-quarter earnings rose 13% on increased sales of its Liquid-Plumr drain cleaner and namesake bleach. Profit from operations rose to $114 million, or 48 cents a share, in the quarter ended March 31, from $101 million, or 42 cents, a year ago. Sales rose 4.2% to $1.03 billion from $992 million.

Hilton Hotels Corp. on Tuesday reported lower second-quarter earnings, in line with Wall Street expectations, as the industry's post-Sept. 11 rebound stalled and sluggish demand from business travelers hurt room rates. The results were better than those of many of Hilton's peers, but the company lowered its outlook for the rest of the year, bringing it more in line with the rest of the struggling hotel industry.