UPDATE 1-Coachmen Industries 3rd-qtr net rises


(Adds sales, earnings outlook)

CHICAGO, Oct 27 (Reuters) - Recreational vehicle maker Coachmen Industries Inc. reported higher third-quarter earnings on Monday, in line with its Oct. 10 forecast, on higher sales.

The Elkhart, Indiana-based company reported net income of $5.4 million, or 35 cents a share, compared with $4.3 million, or 27 cents, in the third quarter of 2002.

That was in line with Coachmen's prediction earlier this month that it would earn 33 to 35 cents a share, beating the lone analyst estimate.

Sales increased to $200.0 million, or $177.5 million.

Coachmen said material shortages in its recreational vehicle segment may hurt future earnings. As a result, the company said it is confirming its full-year earnings guidance of 52 cents a share.

"However, due to the momentum generated in the third quarter, we now feel there is a possibility for overachievement," said Claire Skinner, Chairman, Chief Executive and President, in a press release.

The forecast excludes the effect of any impairment charges that may be required in the fourth quarter after a review of goodwill evaluation.



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