Rush realizes strong 3Q
Oct 17, 2002 12:00 PM
Peterbilt and John Deere dealership conglomerate Rush Enterprises posted a 24.5% increase in revenues for the third quarter, with net income jumping 171.6%. Chairman & CEO W. Marvin Rush noted, however, that Rush's boom in new truck sales was caused primarily by the change in emission guidelines that took effect on Oct. 1. In the third quarter, Rush said its gross revenues totaled $242.9 million, up from $195.2 million in the same period last year. Net income climbed to $2.9 million for the quarter, compared to $1.1 million in the same quarter in 2001. Rush's heavy-duty truck dealership posted revenues of $214.3 million in the third quarter, up from $154.8 million in the same quarter of 2001. The company said it delivered 1,587 and 537 new and used trucks, respectively, during the third quarter, compared to 966 and 479 new and used trucks, respectively, from the same period in 2001.
