Rush Enterprises Inc. which operates the largest network of heavy-duty and medium-duty truck dealerships in North America and a John Deere construction equipment dealership in Houston, Texas,
said third-quarter gross revenues totaled $651.3 million, a 34.2 percent increase from gross revenues of $485.4 million reported for the third quarter ended Sept. 30, 2005.
Net income for the quarter was $16.4 million, or $0.65 per diluted share, a 22.6 percent increase, compared with net income of $13.2 million, or $0.53 per diluted share, in the quarter ended Sept. 30, 2005.
The company’s truck segment recorded revenues of $625.5 million in the third quarter of 2006, compared to $467.8 million in the third quarter of 2005. The company delivered 3,512 new heavy-duty trucks, 1,109 new medium-duty trucks and 999 used trucks during the third quarter of 2006, compared to 2,648 new heavy-duty trucks, 671 new medium-duty trucks and 890 used trucks in the third quarter of 2005. Parts, service and body shop sales increased to $105.6 million in the third quarter of 2006 from $88.6 million in the third quarter of 2005.
The company’s construction equipment segment recorded revenues of $20.7 million in the third quarter of 2006, compared to $14.2 million in the third quarter of 2005. New and used construction equipment unit sales revenue increased 55.9 percent to $15.9 million in the third quarter of 2006 from $10.2 million in the third quarter of 2005. Construction equipment parts, service and body shop sales increased 16.2 percent to $4.3 million in the third quarter of 2006 from $3.7 million in the third quarter of 2005.
W. Marvin Rush, chairman of Rush Enterprises Inc., said, “I am pleased to announce another solid quarter in route to a record year for Rush. We delivered more trucks this quarter than any quarter in the history of the company.”