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Spartan Motors Net Income Turns Positive In Second Quarter

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Spartan

Spartan Motors net income of $4.4 million, or $0.13 per share, compared to a $1.2 million, or $0.03 per share in the second quarter of 2015.

During the quarter, sales increased 12.2 percent to $162.5 million from $144.8 million and net income grew 272 percent to $4.4 million, or $0.13 per share, versus $1.2 million, or $0.03 per share.

“We are pleased with the operating results achieved for the quarter as we continue to show improvement and incremental, sequential quarterly progress in all three business segments,” said Daryl Adams, president and chief executive officer of Charlotte, Mich.-based Spartan Motors. “Our process improvement and lean initiatives introduced as part of our multi-year turnaround plan, together with a focused execution of our business plan, are generating operational efficiencies and driving increased profitability. Our employees have embraced this transformation, and, as a result of their contributions, we are pleased to report Spartan’s strongest profitable quarter since the second quarter of 2009.”

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