Supreme Industries sees decline in earnings
Nov 1, 2002 12:00 PM
Supreme Industries Inc, manufacturer of specialized vehicles including truck bodies and shuttle buses, announced financial results for the third-quarter and nine months ended Sept 28, 2002.
Revenues for 2002's third quarter were $51.0 million compared with $53.9 million for third-quarter 2001 — a decrease of approximately 5%. Net income was $425,000 versus last year's $866,000. The earnings decline was primarily attributable to the lower sales volume and secondarily to increased selling, general and administrative expenses.
For the first nine months of 2002, revenues fell to $160.3 million from $172.0 million for the same period in 2001. Net income was $3.4 million versus $3.6 million for the first nine months of 2001.
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