Charlotte, MI-based Spartan Motors saw its third quarter net sales increase by 59.5 percent from its 2007 third quarter results.
Spartan reported record third quarter net earnings of $14.7 million, compared with net earnings of $2.6 million the same quarter of 2007.
"This was an excellent quarter for Spartan, especially given the tumultuous national economic environment," says president and CEO, John Sztykiel. "Our market diversification and flexible manufacturing model continue to allow us to grow and profitably compete in difficult times. During the quarter, we ramped up production rapidly and efficiently to complete a sizable military order.”
The 2008 third quarter results represent the best third quarter in the company’s history.
"Our military role is evolving from a rapid production and deployment stage to a long-term sustainment and partnership model, marked by smaller volumes of a wider range of mine-protected variants,” Sztykiel says. “Emergency-rescue continues to be a great foundation with tremendous opportunity."
Spartan Motors was also recently recognized by the U.S. Military for its rapid production and deployment of Mine Resistant Ambush Protected (MRAP) vehicles.
Source: Spartan Motors
Ivy Hughes, development news editor, can be reached here.
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