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Strategies & Market Trends : Value Investing

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To: jeffbas who wrote (8090)	9/24/1999 10:47:00 AM
From: Bob Rudd	Read Replies (1) of 78822

Manufactured Housing: This comment, extracted from a CAV 3rd qtr warning helps explain recent weakness: <<''Industry competition has intensified as a result of increased manufacturing capacity and a higher number of retailers. The growth in retail sales centers has resulted in build-up of inventory at the retail level,'' said President David Roberson. According to Roberson, current conditions will continue to depress sales and earnings also during the coming quarters. ''We believe wholesale shipments and retail sales will continue to suffer until the excessive retail inventories and the number of retail locations are reduced. We currently expect that this will take several quarters, and that Cavalier's sales and earnings will be adversely affected by these and other industry conditions during that time,'' Roberson added.>> source biz.yahoo.com

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