NEWS RELEASES
Third Quarter Results Show Expansion for Lazydays
Editor's Note: This news item was retrieved and first published through Lazydays Holdings Inc.'s website.
TAMPA, Fla. - Lazydays RV announces financial results for the third quarter ending September 30, 2018. "The third quarter highlighted the benefits of successfully executing our geographic expansion strategy and diversifying our revenue base geographically," stated Mr. William Murnane, Chairman and Chief Executive Officer of Lazydays.
Some main highlights include: 1) On August 7, 2018, Lazydays closed on the acquisition of Shorewood RV Center located in Ramsey, Minnesota. The Company had announced on May 21, 2018 that it had entered into an agreement to acquire Shorewood RV Center. The dealership is now known as Lazydays RV of Minneapolis; 2) On October 23, 2018, Lazydays announced entering into an agreement to acquire Tennessee RV Supercenter located just outside Knoxville, Tennessee; 3) As of September 30, 2018, cash was $37.4 million, up $1.8 million from June 30, 2018. The increase in cash was primarily driven by cash flows from operations of $4.5 million. More financial notes on the 2018 3rd quarter can be found in the full press release. "We are excited to have announced our second planned acquisition this year and to continue our geographic expansion into Tennessee. We expect to close the Tennessee acquisition before the end of the year. The opportunities for continued geographic expansion remain robust and we expect to continue our geographic expansion throughout 2019," Murnane closes.
Visit the Investor Relations page on the Lazydays RV website for more info.