Spartan Motors announces a 31.4 percent increase in sales for 2010 as the company prepares to unveil plans for production of a new delivery van next month.
According to excerpts from the article:
Spartan Motors Inc. closed out 2010 with solid sales and profit gains as it adjusted its business mix.
"In the past ... our growth strategy was primarily organic and today we have a blended strategy," company President and CEO John Sztykiel said.
Sales rose 31.4 percent to $126.9 million in the recent quarter from $96.5 million one year earlier.
Last year's results reflected the acquisition of delivery van subsidiary Utilimaster and the sale of the Road Rescue ambulance division to a unit of Allied Specialty Vehicles Inc.
Spartan continues to assemble and manufacture components for specialty vehicles such as recreation vehicles, delivery vans and military vehicles.
Spartan has shifted its production mix in the past two years. It had relied on production of mine-resistant ambush-protected vehicles, known as MRAPs, for the military but orders dropped off as the U.S. Department of Defense prepared to scale back operations in Iraq and Afghanistan.
The companies also plans to build new
Isuzu vehicle known as the Next Generation Commercial Van, that will debut next in March at a trade show in St. Louis.
Spartan says the van's fuel economy is 35 percent better than existing delivery vans. It id designed to make loading, entering and exiting easier.
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