Oscar Williams, Courtesy of Rush Truck Centers
Truck dealership Rush Enterprises’ fourth-quarter income slipped from a year earlier, but its full-year income improved as 2012 heavy-duty truck sales rose 10%.
The company also said it is ramping up its ability to service natural-gas trucks.
Fourth-quarter net income fell to $14.2 million, or 36 cents per share, from $19.4 million, or 50 cents, a year earlier. Revenue slipped 5.6% to $732.3 million.
For the year, San Antonio, Texas-based Rush earned $62.5 million, or $1.57 per share, up from $55.2 million, or $1.42, in 2011. Revenue jumped 20% to a record $3.1 billion.
In the 2012 fourth quarter , Rush delivered 2,102 new heavy-duty trucks, down from 2,872 a year earlier; 1,789 new medium-duty trucks, up from 1,711 units; and 393 light-duty trucks, up from 292. Rush delivered 1,039 used trucks in the quarter, down from 1,215 a year earlier.