Spartan Motors Second Biggest Gainer Among Michigan-Listed Companies
08 Enero 2007 - 3:30PM
PR Newswire (US)
CHARLOTTE, Mich., Jan. 8 /PRNewswire-FirstCall/ -- Investors in
Spartan Motors, Inc. (NASDAQ:SPAR) saw their shares increase 124.6
percent in 2006, making Spartan the year's second largest gainer in
stock price among Michigan- based companies listed on the major
exchanges. The gain in stock price was based on the closing price
of the last trading days of 2005 and 2006, adjusted for the 3-for-2
split of Spartan's stock in Dec. 2006. "Coming off the best
nine-month period in company history, we are looking forward to
reporting our fourth quarter results and beginning the new year on
the right footing," said John Sztykiel, president and CEO of
Spartan Motors. "We are pleased that our share price has reflected
our strong results and look forward to 2007." Spartan reported a
50.7 percent increase in net earnings and a 21.9 percent increase
in net sales for its third quarter ended Sept. 30, 2006, as
compared to the same quarter of last year. Spartan attributed its
best-ever third quarter results to record-level fire truck chassis
sales, increased military vehicle chassis sales and improved
performance at Spartan's EVTeam operating group. Spartan also paid
out a total of $0.27 per share in dividends for 2006, up from the
total dividend payments of $0.26 paid in 2005. About Spartan Motors
Spartan Motors, Inc. (http://www.spartanmotors.com/) designs,
engineers and manufactures custom chassis and vehicles for the
recreational vehicle, fire truck, ambulance, emergency-rescue and
specialty vehicle markets. The Company's brand names --
Spartan(TM), Crimson Fire(TM), Crimson Fire Aerials(TM), and Road
Rescue(TM) -- are known for quality, value, service and being the
first to market with innovative products. The Company employs
approximately 900 at facilities in Michigan, Pennsylvania, South
Carolina, and South Dakota. Spartan reported sales of $343.0
million in 2005 and is focused on becoming the premier manufacturer
of specialty vehicles and chassis in North America. This release
contains forward-looking statements, including, without limitation,
statements concerning our business, future plans and objectives and
the performance of our products. These forward-looking statements
involve certain risks and uncertainties that ultimately may not
prove to be accurate. Actual results and future events could differ
materially from those anticipated in such statements. Technical
complications may arise that could prevent the prompt
implementation of the plans outlined above. The company cautions
that these forward-looking statements are further qualified by
other factors including, but not limited to, those set forth in the
company's Annual Report on Form 10-K filing and other filings with
the United States Securities and Exchange Commission (available at
http://www.sec.gov/). Government contracts and subcontracts
typically involve long payment and purchase cycles, competitive
bidding, qualification requirements, delays or changes in funding,
extensive specification development and changes, price negotiations
and milestone requirements. An announced award of a governmental
contract is not equivalent to a finalized executed contract and
does not assure that orders will be issued and filled. Government
agencies also often retain some portion of fees payable upon
completion of a project and collection of contract fees may be
delayed for long periods, which can negatively impact both prime
contractors and subcontractors. The company undertakes no
obligation to publicly update or revise any statements in this
release, whether as a result of new information, future events or
otherwise, except as required by law. DATASOURCE: Spartan Motors,
Inc. CONTACT: John Sztykiel, CEO, or Jim Knapp, CFO, both of
Spartan Motors, Inc., +1-517-543-6400; or Ryan McGrath, , or Jeff
Lambert, both of Lambert, Edwards & Associates, Inc.,
+1-616-233-0500, for Spartan Motors, Inc. Web site:
http://www.spartanmotors.com/
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