Rush Enterprises Inc., whose operations include the largest network of Peterbilt heavy-duty truck dealerships in North America and a John Deere construction equipment dealership in Houston, Texas,
has announced results for the second quarter ended June 30.
In the second quarter, the company's gross revenues totaled $267.2 million, a 38.2% increase from gross revenues of $193.3 million reported for the second quarter ended June 30, 2003.
Net income was $4.1 million during the second quarter of 2004 compared to $2.2 million in the second quarter of 2003. Income from continuing operations was $4.1 million during the second quarter of 2004 compared to $2.3 million in the second quarter of 2003.
The company's truck segment recorded revenues of $253.3 million in the second quarter of 2004, compared to $179.3 million in the second quarter of 2003. The company delivered 1,283 new heavy-duty trucks, 433 medium-duty trucks and 647 used trucks during the second quarter of 2004, compared to 755 new heavy-duty trucks, 211 medium-duty trucks and 588 used trucks for the same period in 2003. Parts, service and body shop sales increased 12.2% from $60.0 million in the second quarter of 2003 to $67.3 million in the second quarter of 2004.
In announcing the results, W. Marvin Rush, chairman and chief executive officer, said, "Obviously we are very happy with our performance in the second quarter of 2004. Our prediction of strong demand for both heavy and medium-duty trucks has proven to be accurate. Manufacturer and component suppliers expect demand for trucks to continue to increase through at least 2006."