Featherlite Inc. the Iowa-based manufacturer and marketer of specialty aluminum trailers, transporters and motorcoaches, has reported net income of $1.4 million, or 12 cents per diluted share,
on net sales of $60.4 million for the first quarter ended March 31, 2006.
First quarter net sales rose by $1.8 million, or 3.1 percent, over the same period last year. Net income of $1.4 million in the first quarter of 2006 compares with $1.5 million, or 13 cents per diluted share, in the same period in 2005, a 6.1 percent decrease. Trailer segment sales in the first quarter of 2006 increased 5.5 percent over the same period last year as trailer orders remained strong and price increases and surcharges implemented during the quarter became effective.
"Both luxury coach and trailer sales leads, one indicator of potential future sales levels, came in at a record pace during the first quarter of 2006," said President and CEO Conrad Clement. "The company and the trailer industry continue to experience margin pressure as aluminum and steel commodity prices rise. The company is managing these fluctuations with appropriate product price increases and surcharges as well as controlling operating expenses, and we remain cautiously optimistic about the level of business during the remainder of 2006.”