Spartan Motors in Charlotte, Michigan, saw second quarter net sales increase 28.8 percent from 2007 and year-over-year net earnings increase by 59.8 percent.
Spartan Motors’ reported second quarter net sales sit at $196.5 million, setting the company record for second quarter net sales.
"The company posted a solid second quarter, particularly given a shift in military business from the second quarter to the third quarter, and the sharp decline in the RV market," says John Sztykiel, president and CEO of Spartan Motors. "Despite these challenges, Spartan improved its earnings nearly 60 percent year-over-year, and our earnings for the first six months of 2008 have surpassed our earnings for the whole of 2007.”
Spartan Motors also reported a gross margin of 17.2 percent in the second quarter of 2008, an increase over a gross margin of 15.7 percent in the same period in 2007. Spartan attributed the year-over-year increase in gross profit to increased sales, product mix, higher absorption of overhead and more favorable warranty costs.
Spartan Motors designs, engineers and manufactures custom chassis and vehicles for recreational vehicles, military vehicles and emergency vehicles.
Source: Spartan Motors
Ivy Hughes, development news editor, can be reached here.
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