Rush Reports Lower 4Q Earnings
Truck dealership Rush Enterprises said its fourth-quarter earnings dipped to $12.3 million, or 32 cents a share, from $15.9 million, or 42 cents, for the previous fourth quarter.
Revenue declined 27% to $458.5 million, the company said late Tuesday. Truck segment revenue fell to $429.7 million, from $607.6 million a year ago.
For the full year, Rush earned $51.5 million, or $1.33 per share, down from $58.8 million, or $1.55, a year ago.
Full-year revenue fell 14% to $2 billion, while truck segment revenue fell to $1.9 billion, from $2.3 billion in 2006, the company said.
In addition to trucks, Rush also operates a John Deere dealership and has a construction equipment segment. The construction unit’s revenue rose 34% in the fourth quarter, to $24.1 million, Rush said.
