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TheStreet Open House

Supreme Industries Reports Sharply Improved Third-Quarter 2011 Earnings

Stocks in this article: STS

News releases and other information on the Company are available on the Internet at: http://www.supremeind.com or http://www.b2i.us/irpass.asp?BzID=1482&to=ea&s=0

Supreme Industries, Inc. and Subsidiaries
Consolidated Statements of Income (Unaudited)
   
Three Months Ended Nine Months Ended
October 1,   September 25, October 1,   September 25,
2011 2010 2011 2010
Net sales $ 72,811,268 $ 61,465,880 $ 235,275,205 $ 166,402,816
Cost of sales   63,499,907     55,464,415     211,465,198     150,413,628  
Gross profit 9,311,361 6,001,465 23,810,007 15,989,188
 
Selling, general and administrative expenses 6,720,752 5,236,944 20,628,189 16,310,876
Other income (167,241 ) (170,778 ) (621,845 ) (516,262 )
Legal settlement and related costs   -     369,317     2,182,091     526,028  
Operating income (loss) 2,757,850 565,982 1,621,572 (331,454 )
 
Interest expense   1,209,645     284,795     1,942,216     1,121,295  

Income (loss) from continuing operations before income taxes

1,548,205 281,187 (320,644 ) (1,452,749 )
 
Income taxes   -     -     -     -  
Income (loss) from continuing operations 1,548,205 281,187 (320,644 ) (1,452,749 )
 
Discontinued operations
Operating loss of discontinued Oregon operations (25,984 ) (403,314 ) (717,829 ) (1,101,085 )
Operating income of discontinued motorhome operations   -     (51,743 )   -     (190,509 )
Net income (loss) $ 1,522,221   $ (173,870 ) $ (1,038,473 ) $ (2,744,343 )
 
Income (loss) per share:
Income (loss) from continuing operations $ 0.10 $ 0.02 $ (0.02 ) $ (0.10 )
Loss from discontinued operations   -     (0.03 )   (0.05 )   (0.09 )
 
Net income (loss) $ 0.10   $ (0.01 ) $ (0.07 ) $ (0.19 )
 

Shares used in the computation of income (loss) per share:

Basic 15,155,528 14,325,693 14,693,856 14,291,729
Diluted 15,345,234 14,325,693 14,693,856 14,291,729
 

Supreme Industries, Inc. and Subsidiaries

Consolidated Balance Sheets

   

October 1,

December 25,

2011

2010

(Unaudited)

(Audited)

 

Assets

Current assets $ 69,245,363 $ 68,443,939
Property, plant and equipment, net 33,112,744 33,054,891
Other assets   1,773,736   38,624

Total assets

$ 104,131,843 $ 101,537,454
 

Liabilities

Current liabilities $ 33,810,358 $ 48,833,930
Long-term debt   16,729,129   770,847

Total liabilities

50,539,487 49,604,777

Total stockholders' equity

  53,592,356   51,932,677

Total liabilities and stockholders' equity

$ 104,131,843 $ 101,537,454
 




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