Supreme Industries Enjoys Sales Gains in 2Q
Supreme Industries Inc. recently reported that second quarter sales and income were up.
The Goshen News reported that the company, which makes specialized commercial vehicles, reported its consolidated net sales from continuing operations grew to $71.6 million in the second quarter, which was a 3.8% increase compared with $68.9 million during the second quarter of last year.
Gross profit from continuing operations was $14.6 million compared with $14.5 million in the second quarter of 2013, according to the company. Supreme settled a lawsuit in the second quarter of 2013 that contributed to a $3 million after-tax net loss being recorded in its discontinued shuttle bus operations for that quarter.
According to the company, when the negative impact from discontinued operations on 2013’s results is included, reported net income improved to $4.3 million in the quarter, up from net income of $0.9 million in last year’s comparable quarter.
Operating income from continuing operations in the second quarter of 2014 was $6.4 million, equal to last year’s second quarter operating income.
“Business conditions remained solid during the spring and the OEM chassis shortage that hampered financial performance in the first quarter has been mitigated. This allowed us to generate improvements in both sales and earnings in the second quarter,” said Mark Weber, Supreme’s president and chief executive officer.
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