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Spartan Motor's CEO Discusses Q2 Results - Earnings Transcript

Stocks in this article: SPAR

Simply put, our blended growth strategy of acquisitions, alliances and organic innovations is delivering the revenue growth and the focus on operations is improving profitability. The main points, I and we hope you take away from this morning’s call, are Spartan’s growth in revenues, in earnings, plus higher orders and order backlog throughout the company.

The major factors behind Spartan’s growth are product and industry leadership and delivering positive results by executing our strategic and operational plans. Joe Nowicki will talk about the quarterly results in greater detail, but I want to mention a few of the highlights especially in our Delivery & Service and Emergency Response businesses.

You’ll remember that in the second quarter, we combined Crimson and Classic Fire into Spartan ERV, which stands for Spartan Emergency Response Vehicles. We also named Dennis Schneider to lead Spartan ERV and Spartan ERC, our Emergency Response Charity business, so we have now one combined entity, Spartan ER. These moves along with our new products grabbed a lot of attention for Spartan’s Emergency Response businesses and generating growth and revenue and the order backlog, simply results.

Spartan’s ER Chassis business grew by $5.8 million from the second quarter of 2011 to 2012 while ERV sales were up $1.7 million for the same period. Combined ERV order backlog of the vehicles group at June 30 of 2012 was up by $3 million to $83.3 million.

While ERC, the Chassis Group, the order intake in June was the highest we’ve seen in the last four years. Higher orders in ERC is especially encouraging since it indicates that despite budgetary pressures, municipality still recognize the advantages and total value of a custom fire-truck chassis. We’re going a lot of things right in our Emergency Response businesses and our customers are noticing. The market is noticing.

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