Rush Reports 3Q Earnings Dip
Truck dealership Rush Enterprises said its third-quarter earnings dipped to $13.1 million or 34 cents a share, from $16.4 million or 43 cents for the same quarter last year.
Revenue declined 20% to $521.6, the company said late Thursday.
Truck segment revenue fell to $491.3 million from $625.6 million a year ago.
Rush delivered 1,820 new Class 8 trucks compared with 3,512 last year; 1,520 new medium-duty trucks compared with 1,109; and 1,032 used trucks compared with 999 a year ago.
Parts, service and body shop sales increased to $115.5 million in the third quarter of 2007 from $105.6 million in the third quarter of 2006.
Rush also operates a John Deere dealership and has a construction equipment segment. The construction unit’s revenue rose to $25.3 million from $20.7 million last year.
