The truck and equipment markets remain soft and the oversupply of used trucks continues to be a problem, says Marvin Rush, chairman and CEO of Rush Enterprises, which operates the country’s largest network of Peterbilt dealerships.
Rush’s heavy-duty truck segment recorded fourth quarter 2001 revenues of $152.1 million versus $170.2 million in the fourth quarter of 2000. The company delivered 989 new trucks and 391 used trucks, compared to 1,310 new trucks and 462 used trucks during the same period a year earlier. Parts, service and body shop sales, however, increased 18.5 percent to $49.2 million for the quarter.
Its construction equipment segment had fourth quarter revenues of $20.4 million, compared to $28.1 million in the fourth quarter of 2000. New and used construction equipment unit sales revenue decreased $7.3 million or 34.9 percent from the same period a year earlier. Parts and service sales increased 5.5 percent.
Total fourth quarter revenues were $185.3 million, down from $211.1 million in fourth quarter 2000. Net income was $580,000 after special charges, compared to a net loss of $1.6 million for the same period a year earlier. Net income for 2001 was $3.3 million, about the same as 2000. Revenues totaled $784.3 million versus $896,563 the previous year.
Rush operates Peterbilt and John Deere dealerships in Texas, California, Oklahoma, Louisiana, Colorado, Arizona, New Mexico and Michigan.
Rush’s heavy-duty truck segment recorded fourth quarter 2001 revenues of $152.1 million versus $170.2 million in the fourth quarter of 2000. The company delivered 989 new trucks and 391 used trucks, compared to 1,310 new trucks and 462 used trucks during the same period a year earlier. Parts, service and body shop sales, however, increased 18.5 percent to $49.2 million for the quarter.
Its construction equipment segment had fourth quarter revenues of $20.4 million, compared to $28.1 million in the fourth quarter of 2000. New and used construction equipment unit sales revenue decreased $7.3 million or 34.9 percent from the same period a year earlier. Parts and service sales increased 5.5 percent.
Total fourth quarter revenues were $185.3 million, down from $211.1 million in fourth quarter 2000. Net income was $580,000 after special charges, compared to a net loss of $1.6 million for the same period a year earlier. Net income for 2001 was $3.3 million, about the same as 2000. Revenues totaled $784.3 million versus $896,563 the previous year.
Rush operates Peterbilt and John Deere dealerships in Texas, California, Oklahoma, Louisiana, Colorado, Arizona, New Mexico and Michigan.
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