Featherlite, the maker of specialty aluminium trailers, transporters and luxury motor coaches, has reported net income of $US1.2 million, or $0.16 cents per diluted share, on sales of $56.4 million for the first quarter ended March 31, 2004.
This compares with a net loss of $677,000, or $(0.10) cents per diluted share, on sales of $41.7 million in the first quarter last year.
Consolidated net sales for the first quarter of 2004 increased 35% over the same period last year.
“The improved results were due primarily to higher gross margins we realised both from increased unit sales volume and average gross margins per unit sold. The results also reflect improved efficiencies because of the increased volume,” a spokesman said.
At March 31, 2004, confirmed consolidated order backlog levels were 36% greater than at March 31, 2003.