Supreme Industries Reports Revenues and Earnings
GOSHEN, IN – Supreme Industries, Inc. — a manufacturer of specialized transportation products, including truck bodies and shuttle buses — has reported its financial results for the 2006 second-quarter and six-month periods ended July 1, 2006.
The company recorded net sales of $98.9 million for the second quarter of 2006, compared to $95.2 million for the same period last year, an increase of $3.7 million, or 3.8 percent. Net sales in the first six months declined $0.9 million, or 0.5 percent, to $184.6 million in the 2006 period from $185.5 in the 2005 period. Increased net sales in the 2006 second quarter were primarily attributable to a 31 percent increase in net sales quarter over quarter in the company’s StarTrans Bus Division due to a new ordering cycle of various transit authorities.
In the six-month period, fleet sales decreased approximately 25 percent over the comparable 2005 period due to an industry-wide reduction in truck purchases by major fleet customers. This decrease was partially offset by a 4-percent increase in the core dry freight product line and a 34 percent increase at StarTrans from period to period. Sales backlog was $81.1 million July 1, 2006, compared to $72.6 million June 25, 2005.
Net income for the second quarter was $1.6 million, or $0.12 per diluted share, in 2006 compared to $2.9 million, or $0.23 per diluted share, in 2005, and for the first six months was $2.9 million, or $0.23 per diluted share, for the 2006 period and $6.0 million, or $0.47 per diluted share, in the 2005 period.