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TheStreet Open House

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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