Rush Enterprises Reports Profit Increase for 4Q, Year

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ush Enterprises, the nation’s largest dealer of Peterbilt trucks, reported fourth-quarter net income of $12.6 million or 50 cents a share, up from $5 million or 26 cents in the previous fourth quarter.

Revenue rose 71.3% to $515.5 million, Rush said in a statement.

“We expect the truck market in 2006 to exceed 2005’s near record levels, but be followed by a decrease in truck sales in the first half of 2007 because of the new [federal] emission standards,” said Marvin Rush, the company’s chairman and chief executive officer.

“Additionally, we expect sales to rebound in the second half of 2007 and be followed by strong markets in 2008 and 2009,” he said in a statement.

The company’s truck segment recorded revenue of $494.7 million for the quarter, up from $286.6 million a year earlier.

For the full year, Rush earned $44.6 million or $1.79 per share, up from $16.9 million or $1.02 in 2004. Revenue rose 72.7% to $1.9 billion.

Rush said it delivered 2,809 new heavy-duty trucks in the quarter, up from 1,546 a year earlier.

It delivered 831 new medium-duty trucks, up from 548 a year earlier, and 933 used trucks, compared with 621 in the last quarter of 2004.

The company’s construction equipment segment generated $15.9 million in fourth-quarter revenue. 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 to $90.2 million from $66 million.