Spartan Motors reported that the first quarter of 2018 saw a sales increase of $6 million, or 3.6 percent, to $173.0 million from $167.1 million. Its gross profit margin improved 300 basis points, to 12.8 percent of sales, from 9.8 percent of sales.
“We really hit the ground running in 2018, as we experienced another strong, consecutive quarter of profitable growth,” said Daryl Adams, president and CEO. “The robust start to the year was driven by the ongoing efforts of our entire team to generate continued operational improvement as well as strong growth in our core markets.”
The specialty chassis and vehicle segment saw a sales increase of 46.4 percent, to $48.2 million, from $33 million a year ago. Revenues were driven mainly by a $13.5 million increase in luxury motorcoach chassis sales, resulting from market share gains and continued strong industry demand.
The segment backlog on March 31 totaled $29.7 million, up 29.8 percent, compared to $22.8 million on March 31, 2017.
