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Rush Enterprises’ 2Q Profit Improves on Higher Truck Sales

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10/21/2010 10:15:00 AM

Truck dealership Rush Enterprises said its third-quarter profit improved as sales rose.

The company reported net income of $14.2 million, or 37 cents a share, from $3 million, or 8 per diluted share.

Truck segment revenue rose to $401.7 million, from $289.8 million, while overall revenue rose 38.1% to $405.8 million.

It delivered 1,283 new heavy-duty trucks in the quarter, up from 1,030 last year; 678 new medium-duty trucks, up from 637; and 899 used trucks, up from 760 a year ago.

Rush completed the sale of its John Deere construction equipment business in September for $26.2 million. (Click here for previous coverage.)

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Rush Enterprises’ 2Q Profit Improves on Higher Truck Sales (10/21/2010 10:15:00 AM)
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Emil Estafanous, CPA, CFF, CGMA