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Rush Enterprises, Inc. Reports Fourth Quarter And Year-End 2012 Results

Stocks in this article: RUSHA RUSHB

Operations

Aftermarket Solutions

Aftermarket services accounted for 63.4% of the Company's total gross profits in 2012 with parts, service and body shop revenues reaching a new record of $817.3 million, up 21% over 2011. This contributed to a new record annual absorption rate of 116%. "Our commitment to providing the innovative solutions to service our customers' unique business needs continues to drive our strong parts, service and body shop revenues and absorption performance. Service needs from an aged fleet along with continued strong parts and service activity in the energy sector also contributed to the growth in our aftermarket revenues in 2012," said Rusty Rush.

"Service technicians now account for more than 36% of our 4,400 employee workforce, and the Company continues to invest in training, certification and diagnostic equipment to support our service professionals," Rusty Rush explained.

"Additionally, we continue to expand our fleet of mobile service units. We now have approximately 200 mobile service units across our network and an additional 100 technicians supporting our customers at their shops or job sites throughout the country," added Rusty Rush.

"We continue to invest in the infrastructure to better serve our natural gas customers. We have made substantial investments at six Rush Truck Center locations to enable technicians to perform certified CNG and LNG service, with plans in place to bring additional facilities online as needed in key markets. Approximately 85 technicians have been factory-certified to service natural gas fuel systems. We continue to believe natural gas-powered vehicles will grow in popularity and could represent up to 10% of the Class 8 new truck sales market in the next five years," Rusty Rush commented.

"Our Custom Vehicle Solutions (CVS) business continued to expand in 2012. We added a second CVS location in Houston while expanding component, body and specialty up-fitting capabilities for this business. We also implemented dedicated pre-delivery inspection services in Yuma, Arizona for Peterbilt Model 320s built in nearby Mexicali. We look forward to increasing CVS's capabilities throughout the country as opportunities arise," Rusty Rush added.

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