Rush Enterprises, Inc. Reports Second Quarter Results

(Unaudited)

 

	Three Months Ended June 30,		Six Months Ended June 30,
	2010	2009	2010	2009
Revenues:
New and used truck sales	$ 191,309	$187,154	$371,913	$383,142
Parts and service	118,529	98,706	220,357	203,466
Lease and rental	16,255	13,236	30,287	26,712
Finance and insurance	2,047	2,230	3,532	3,871
Other	1,699	1,245	3,038	2,871
Total revenue	329,839	302,571	629,127	620,062
Cost of products sold:
New and used truck sales	174,817	179,846	341,163	362,673
Parts and service	72,222	60,565	134,851	124,547
Lease and rental	13,621	11,589	25,871	23,517
Total cost of products sold	260,660	252,000	501,885	510,737
Gross profit	69,179	50,571	127,242	109,325
Selling, general and administrative	55,148	48,735	105,285	98,917
Depreciation and amortization	3,676	4,680	7,223	8,523
Gain (loss) on sale of assets	7	22	(4)	78
Operating income (loss)	10,362	(2,822)	14,730	1,963
Interest expense, net	1,397	1,412	2,694	2,960
Income (loss) from continuing operations before taxes	8,965	(4,234)	12,036	(997)
Provision (benefit) for income taxes	3,549	(2,545)	4,698	(1,643)
Income (loss) from continuing operations	5,416	(1,689)	7,338	646
Income from discontinued operations, net	272	168	587	696
Net income (loss)	$ 5,688	$ (1,521)	$ 7,925	$ 1,342
Earnings (loss) per common share - Basic:
Income (loss) from continuing operations	$  .15	$  (.05)	$  .20	$  .02
Net income (loss)	$  .15	$  (.04)	$  .21	$  .04
Earnings (loss) per common share - Diluted:
Income (loss) from continuing operations	$    .14	$  (.05)	$  .19	$  .02
Net income (loss)	$   .15	$  (.04)	$  .21	$  .04
Weighted average shares outstanding:
Basic	37,292	37,039	37,232	37,015
Diluted	38,189	37,039	38,014	37,389

CONTACT:  Rush Enterprises, Inc., San Antonio 
          Steven L. Keller
          830-626-5226

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