GOSHEN —
Supreme Industries Inc., has reported its sales increased in the third quarter.
The company manufactures specialized commercial vehicles, including truck bodies, shuttle buses and armored vehicles.
Supreme’s report says consolidated net sales increased 19 percent to $72.8 million in the third quarter, up from $61.5 million in last year’s third quarter. The company reported net income from continuing operations of $1.5 million, or $0.10 per diluted share, for the 2011 quarter, compared with income from continuing operations of $0.3 million, or $0.02 per diluted share, in the prior year. According to the company, when the impact from discontinued operations are included, net income improved to $0.10 per diluted share, reversing the year-ago net loss of $0.01 per share.
Supreme President and Chief Executive Officer Kim Korth said, "We are pleased to report a positive quarter for Supreme. We have been working aggressively on multiple fronts to improve our performance, and it is gratifying to see these efforts begin to show up on the bottom line... In addition to new practices and procedures, we are making strategic investments in our facilities designed to yield added enhancements to future productivity and flexibility."
Gross profit rose 55 percent to $9.3 million from last year’s $6 million, according to the company. The sales order backlog at the quarter end was $90 million, compared with $89 million a year ago.
A live webcast of Supreme Industries’ earnings conference call can be heard today at 9 a.m. Eastern time at http://www.SupremeInd.com. A replay will be available on Supreme’s website for approximately 30 days.
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