Ambulance and specialty vehicle maker Collins Industries said sales for the quarter ended July 31, 2004 increased 3% to $59,069,576 compared to $57,581,114 for the same period last year while net income increased 38% to $859,809 ($.14 per share) compared to $623,685 ($.09 per share).
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Income improvement was due mainly to increases of 225% and 59%, in pretax profits and sales from terminal truck/road construction products. Profit from ambulance products increased 17% but profit from bus products declined by 14%.
Sales for the nine months ended July 31, 2004 increased 2% to $150,174,904 compared to $146,997,072 for the same period in fiscal 2003. Net income increased 156% to $1,423,473 ($.23 per share) compared to $555,107 ($.08 per share).
President and CEO Donald Lynn Collins said: “We are pleased with our third quarter results. Although the fleet replacement continues to be strong for truck and road construction products, we remain cautious about the pace with which municipal and school district budgets will be replenished.”
The company noted that its Orlando, Florida, ambulance plant sustained minimal damage a as a result of Hurricane Charley. Basic electrical power has been restored and operations have resumed.
