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

Supreme Industries Reports Second Consecutive Profitable Quarter And Earnings Rebound For 2011

Supreme Industries, Inc. (NYSE Amex: STS), a leading manufacturer of specialized commercial vehicles, including truck bodies, shuttle buses and armored vehicles, today announced improved financial results for its fourth quarter and full year ended Dec. 31, 2011.

Fourth-Quarter 2011

Consolidated net sales increased 20% to $65.5 million for the quarter, up from $54.5 million in last year’s comparable period. Gross profit improved 254% to $8.6 million from last year’s $2.4 million. Gross profit, as a percentage of sales, increased to 13.09%, compared with 4.44% in the fourth quarter of 2010, primarily due to increased sales, improved product mix and pricing, along with better management of labor and overhead costs. The Company reported net income from continuing operations of $1.9 million which included a tax benefit of $0.4 million, or $0.12 per diluted share, for the 2011 quarter, compared with a loss from continuing operations of $7.2 million, or $0.50 per share, in the prior-year fourth quarter. Including the impact from discontinued operations, net income improved to $0.11 per diluted share, reversing the year-ago net loss of $0.61 per share. Net income for the quarter and 2011 excluded a tax provision due to the Company’s valuation allowance.

Supreme President and Chief Executive Officer Kim Korth said: “It is very gratifying to report a second consecutive quarter of profitability for Supreme. While we still have work to do to ensure sustained profitability for the Company, we are beginning to see increased consistency in our performance.”

Full-Year 2011

Full-year sales increased 36% to $300.8 million from $220.9 million in 2010. The sales order backlog at year end was $100 million, compared with $102 million a year ago. For the full year, gross profit was $32.4 million, or 10.8%, versus $18.4 million, or 8.3%, a year-ago. For the full-year 2011, income from continuing operations was $1.6 million, or $0.11 per diluted share, compared with a loss of $8.6 million, or $0.61 per share, in 2010. Including discontinued operations, net income improved to $0.05 per diluted share, reversing the year-ago net loss of $0.81 per share.

1 of 3

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

Chart of I:DJI
DOW 16,061.36 -313.40 -1.91%
S&P 500 1,913.09 -38.04 -1.95%
NASDAQ 4,661.8740 -71.6230 -1.51%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs