Featherlite Inc., a builder of specialty aluminum trailers, transporters and luxury motorcoaches, reported a 31% increase in revenue during the company’s third quarter, ended Sept. 30.
Sales during the quarter rose from $45.2 million a year ago to $59.3 million while net income increased to $1.1 million versus $900,000.
For the first nine months, net sales increased 6.3% to $169.7 million from $159.7 million the year prior. Net income was flat during the period at $3.6 million compared with $3.7 million the previous year.
Featherlite reported strong quarterly performance in both motorcoach and trailer sales, increasing by 69.1% and 14% respectively.
“We are pleased with the company’s increased sales and earnings in the third quarter,” said Conrad Clement, president and CEO of the Cresco, Iowa-based firm. “Third quarter profits rose on the strength of higher sales and improved new coach margins as well as the favorable impact of a price increase in the trailer segment effective Jan. 1.”