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Updated:
7/21/2010 4:45:00 PM
Rush Enterprises Posts 2Q Profit
Truck dealership Rush Enterprises reported a second-quarter profit of $5.7 million, or 15 cents a share, turning around a loss from a year ago of $1.5 million, or 4 cents per share.
Revenue rose to $329.8 million, from $302.6 million, San Antonio-based Rush said late Wednesday. Truck segment revenue rose to $325.5 million, from $298 million last year.
Rush delivered 813 new heavy-duty trucks in the quarter, down from 954 last year; 828 new medium-duty trucks, up from 638; and 889 used trucks, up from 776 a year ago.
“General economic uncertainty combined with the introduction of new emissions-compliant engine technology weighed heavily in creating yet another challenging market for new truck sales in the second quarter,” Chief Executive Officer Rusty Rush said.
“However, improvements in used truck and parts, service and body shop revenues contributed significantly to the company's profitability this quarter,” he said in a statement.
Rush signed an agreement last month to sell its John Deere construction equipment business for $37 million.
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