Featherlite Inc., a manufacturer of specialty aluminum trailers, transporters and luxury motorcoaches, reported increased profits for the company’s first quarter ended March 31.
The Cresco, Iowa, company posted an 18% gain in net income to $1.5 million compared with $1.2 million last year. Net sales for the three-month period were $58.5 million, representing a 3.7% increase over revenues of $56.4 million the previous year.
Trailer segment sales in the first quarter of 2005 increased 20.3% over the same period last year as orders were strong despite a lower backlog during the quarter compared to the same quarter in 2004.
Featherlite said its motorcoach segment sales declined by 17.5% for the quarter, reflecting a softening in the market.
“We are pleased with the company’s continuing increase in earnings,” said Conrad Clement, president and CEO. “First quarter earnings rose on the strength of improved unit sales volume in the trailer segment as well as the favorable impact of a price increase effective Jan. 1.”