Operating income surged to $2.8 million, up 387%, from the $0.6 million reported in last year’s third quarter.To support future growth, Supreme entered into a new four-year credit agreement during the quarter with Wells Fargo Capital Finance, LLC, which includes a revolving line of credit of up to $45 million. Interest expense during the quarter included approximately $0.8 million from accelerated amortization of capitalized bank refinancing fees related to the Company’s previous credit agreement. As a result, reported interest expense was $1.2 million during the third quarter, compared with $0.3 million last year.
Supreme Industries Reports Sharply Improved Third-Quarter 2011 Earnings
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