Western Star Trucks posted net income of $15 million ($22.3 million Canadian) on revenues of $274.6 million (C$407.7 million) for its third fiscal quarter ending March 31. Net income includes a $11.5 million gain on the sale of its ERF subsidiary. For the same period last year its net income was $5.8 million (C$8.6 million) on revenue of $250.1 million (C$371.3 million).
Class 8 truck revenue was $152.6 million, up 2% from third quarter 1999. A 5% increase in unit sales was offset by lower selling prices due to the slowdown in the North American heavy truck market, the company said. Class 7 revenue for the quarter was $6.1 million, more than triple Class 7 sales in third quarter 1999.
Because of slowing new truck demand, Western Star closed its Kelowna plant for two weeks in early April and has reduced the build rate from 31 trucks per day to 25. Its new South Carolina plant is currently producing 4 trucks per day.
For the first nine months of its fiscal 2000 Western Star reported net income of $33.4 million (C$49.7 million) on revenues of $766.3 million (C$1.14 billion) versus $12.6 million (C$18.8 million) on revenues of $648.8 million (C$963.4 million) for the first nine months of fiscal 1999.
Class 8 truck revenue was $152.6 million, up 2% from third quarter 1999. A 5% increase in unit sales was offset by lower selling prices due to the slowdown in the North American heavy truck market, the company said. Class 7 revenue for the quarter was $6.1 million, more than triple Class 7 sales in third quarter 1999.
Because of slowing new truck demand, Western Star closed its Kelowna plant for two weeks in early April and has reduced the build rate from 31 trucks per day to 25. Its new South Carolina plant is currently producing 4 trucks per day.
For the first nine months of its fiscal 2000 Western Star reported net income of $33.4 million (C$49.7 million) on revenues of $766.3 million (C$1.14 billion) versus $12.6 million (C$18.8 million) on revenues of $648.8 million (C$963.4 million) for the first nine months of fiscal 1999.
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