Spartan Motors, Inc. announced operating results for the first quarter of 2011. Revenues were $95.1 million, down 19.1 percent compared to the same quarter of the prior year, which drove a net loss of $0.9 million, or $0.03 per diluted share, compared to breakeven results for the same period in 2010. Highlights for the quarter include increased order intake and progress on key strategic initiatives.
“We anticipated a tough environment in the first half of 2011, and while unhappy with the loss, we are moving forward and expect to be in a better position for the second half of 2011,” says John Sztykiel, president and CEO of Spartan Motors. “We made progress in each area of our four-part operational plan during the quarter. Two parts were addressed with the recent acquisition of Classic Fire as it exemplifies our commitment to delivering compelling new products and growing profitable market share. This acquisition also demonstrates our commitment to the emergency response market as we expanded our emergency response line and added leadership talent to our bench.”
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