Spartan Motors (SPAR) Tops Q3 EPS by 14c; Maintains FY Outlook

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Go back to Spartan Motors (SPAR) Tops Q3 EPS by 14c; Maintains FY Outlook

Spartan Motors Reports Third Quarter Net Income of $13.5 Million; Increases 391%, on 27% Sales Growth

November 1, 2017 7:30 AM EDT

CHARLOTTE, Mich., Nov. 1, 2017 /PRNewswire/ -- Spartan Motors, Inc. (NASDAQ: SPAR) ("Spartan" or the "Company") today reported operating results for the third quarter ending September 30, 2017.  The Company reported net income of $13.5 million, or $0.38 per share, compared to $2.7 million, or $0.08 per share, in the third quarter of 2016.

Third Quarter 2017 Highlights

For the third quarter of 2017 compared to the third quarter of 2016:

Sales increased 27.3% to $189.2 million from $148.7 million. Gross margin improved 300 basis points, or 24.8%, to 15.1% of sales compared to 12.1% of sales. Net income... More