Featherlite Inc, manufacturer and marketer of specialty aluminum trailers, transporters, and luxury motorcoaches, has announced net income of $753,000 on sales of $40.6 million for third-quarter 2002. This compares with a net income of $106,000 on sales of $51.6 million in third-quarter 2001.
For the nine months ended Sept 30, 2002, net income was $2.9 million, compared with a loss of $4.0 million in the same period in 2001.
Net income in the third quarter and first nine months of 2002 includes $616,000 of benefit related to an income tax refund. Net income for the nine months ended Sept 30, 2001, was reduced by $4.1 million of non-recurring restructuring charges from closure of the Pryor OK motorcoach facility.