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Rush Enterprises’ Income More Than Triples

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4/21/2011 10:40:00 AM

Rush Enterprises’ first-quarter profit more than tripled from a year ago on higher truck sales.

Net income rose to $7.3 million, or 19 cents per share, from $2.2 million, or 6 cents, a year ago.

Revenue rose 49% to $446.1 million, the truck dealership said in a statement.

Truck revenue rose to $277.5 million, from $180.6 million a year ago. Parts, service and body shop sales revenue rose to $145.6 million, from $101.8 million.

Rush delivered 1,345 new heavy-duty trucks in the quarter, up from 969 a year ago; 923 new medium-duty trucks, up from 611; and 1,107 used trucks, up from 686 a year ago.

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Emil Estafanous, CPA, CFF, CGMA