This Day On The Street
Continue to site
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

Rush Enterprises, Inc. Reports Fourth Quarter And Year-End 2010 Results

For the year ended December 31, 2010, the Company's gross revenues from continuing operations totaled $1.5 billion, a 25% increase from gross revenues from continuing operations of $1.2 billion reported in 2009. Income from continuing operations for the year was $24.6 million, or $0.64 per diluted share, compared with income from continuing operations of $5.1 million, or $0.14 per diluted share, in 2009.  The Company reported net income for the year of $31.3 million, or $0.82 per diluted share, compared with a net income of $5.9 million, or $0.16 per diluted share in 2009. 

On September 9, 2010, the Company sold the assets of its John Deere construction equipment business, including its Rush Equipment Centers in Houston and Beaumont, Texas.  The construction equipment business recorded income from discontinued operations, net of tax, of $6.7 million ($0.18 per diluted share) during 2010, compared to $0.8 million ($0.02 per diluted share) during 2009. A majority of the income from discontinued operations during 2010 is attributable to the gain on the sale of Rush Equipment Centers' assets. 

The Company sold 11,141 new and used commercial vehicles in 2010, a 17.4% increase compared to 9,490 new and used commercial vehicles in 2009. The Company delivered 4,746 new heavy-duty trucks, 2,934 new medium-duty commercial vehicles and 3,461 used commercial vehicles during 2010, compared 3,972 new heavy-duty trucks, 2,643 new medium-duty commercial vehicles and 2,875 used commercial vehicles during 2009. Parts, service and body shop sales from our truck segment increased by 24.8% to $479.1 million in 2010 from $384.0 million in 2009. 

During the fourth quarter of 2010, the Company delivered 1,681 new heavy-duty trucks, 813 new medium-duty commercial vehicles and 987 used commercial vehicles, compared to 956 new heavy-duty trucks, 614 new medium-duty commercial vehicles and 762 used commercial vehicles during the fourth quarter of 2009.  Parts, service and body shop sales revenue from our truck segment increased 44.1% to $130.4 million in the fourth quarter of 2010, compared to $90.5 million in the fourth quarter of 2009.

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs