Lufkin Sees Improvement in Trailer Demand
A pickup in volumes and backlog for trailer products indicates that the domestic economy is improving, says Douglas Smith, president and CEO of Lufkin Industries
A pickup in volumes and backlog for trailer products indicates that the domestic economy is improving, says Douglas Smith, president and CEO of Lufkin Industries.
The company reported trailer product sales of $10.4 million in the second quarter, up slightly from $9.7 million for the same period a year earlier. Its trailer backlog at the end of the quarter was $13.6 million compared with $6.9 million last year.
A decline in demand for oil field products held Lufkin's total sales to $60.9 million compared to $73.2 million for second quarter 2001. Net income was $3.5 million versus $5.3 million a year ago.
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