Rush Enterprises’ Income Jumps in First Quarter

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ush Enterprises, the nation’s largest dealer of Peterbilt trucks, said late Tuesday its first-quarter net income jumped to $11.6 million or 46 cents a share, from $7.7 million or 31 cents a year earlier.

Revenue rose 23.9% to $497.9 million, Rush said in a statement.

The company in February named W.M. “Rusty” Rush its chief executive officer, succeeding his father, W. Marvin Rush, who remains chairman. (Click here for previous coverage.)

“Our deliveries of Class 8, medium-duty and used trucks are expected to set all-time records,” Marvin Rush said. “We expect three of the next four years to be at or near record levels for Class 8 deliveries."

We anticipate the industry will experience a decline in truck sales in 2007 due to diesel emission requirements, followed by strong years in 2008 and 2009,” he said in a statement.

he company’s truck segment recorded revenue of $474.3 million for the quarter, up from $388.5 million a year earlier.

Rush said it delivered 2,299 new heavy-duty trucks in the quarter, up from 2,185 a year earlier.

It delivered 891 new medium-duty trucks, up from 624 a year earlier, and 1,058 used trucks, compared with 980 in the previous first quarter.

The company’s construction equipment segment generated $18.9 million in first-quarter revenue, from $11.3 million a year earlier. In addition to its truck sales outlets, Rush also operates a John Deere dealership in Houston.

ush’s truck parts, service and body shop sales rose 25% to 4 million.