This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Supreme Industries Reports Third-Quarter And Nine-Month 2010 Financial Results

Supreme Industries, Inc. (NYSE Amex: STS), a leading manufacturer of specialized commercial vehicles, including truck bodies, shuttle buses and armored vehicles, today announced financial results for its third quarter and nine months ended Sept. 25, 2010.

Net sales for the 2010 third quarter rose 26% to $62.8 million from $49.8 million in last year’s comparable period. For the first nine months, net sales reached $171.9 million, up 18% from $146.0 million in 2009.

Moving into the year’s second half, Supreme continued to experience improved demand for all major product lines including truck, bus and armored vehicles. Sales order backlog at Sept. 25, 2010, grew 44% to $89 million from $62 million a year ago.

Compared with last year’s third quarter, sales in Supreme’s core dry-freight truck and armored vehicle divisions advanced 33% and 109%, respectively. The Company’s bus division posted a 4% sales increase versus the prior-year period. Net sales also improved in each of Supreme’s primary product lines during the first nine months of 2010, with dry-freight trucks, buses and armored vehicles reporting gains of 18%, 16% and 31%, respectively.

The third-quarter loss from continuing operations was $0.1 million, or $0.01 per share, compared with the $1.3 million loss, or $0.09 per share, reported for the year-ago quarter. For the first nine months of 2010, the net loss from continuing operations was $2.6 million, or $0.18 per share, compared with the net loss of $3.4 million, or $0.23 per share, in 2009’s comparable period. The Company did not record an income tax benefit for the three and nine months ended Sept. 25, 2010, due to having fully utilized its loss carryback benefits in 2009.

Commenting on the results, President and Chief Operating Officer Robert W. Wilson said: “As anticipated, we experienced firmer demand across all of our major product categories. Order activity continued to ramp up compared with last year as evidenced by our higher backlog and increased activity from fleet customers. We already have a large fleet order on the books for spring 2011. However, we will continue to maintain a conservative and cautious view of our markets as we move forward.”

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,331.05 +262.18 1.54%
S&P 500 2,004.25 +31.51 1.60%
NASDAQ 4,623.9320 +76.0980 1.67%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs