Spartan Motors (SPAR) Tops Q1 EPS by 4c, Beats on Revenues

Spartan Motors (NASDAQ: SPAR) reported Q1 EPS of $0.09, $0.04 better than the analyst estimate of $0.05. Revenue for the quarter came in at $173 million versus the consensus estimate of $171.51 million.

First Quarter 2018 Highlights

For the first quarter of 2018 compared to the first quarter of 2017:

• Sales increased $6.0 million, or 3.6%, to $173.0 million from $167.1 million
• Gross profit margin improved 300 basis points to 12.8% of sales from 9.8% of sales
• Net income improved $5.3 million, or 482.0%, to $4.2 million, or $0.12 per share, from a loss of $1.1 million, or $0.03 per share. The previous year included $2.6 million of acquisition and restructuring related expenses.
• Adjusted EBITDA increased 33.8% to $5.6 million, or 3.2% of sales, from $4.2 million, or 2.5% of sales
• Adjusted net income improved $2.0 million, or 158.3% to $3.3 million, or $0.09 per share, from $1.3 million, or $0.04 per share
• Backlog increased $203.3 million to $554.6 million at March 31, 2018 from $351.3 million at March 31, 2017

For earnings history and earnings-related data on Spartan Motors (SPAR) click here.

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