Supreme Industries, Inc (STS) has reported a 47.76 percent plunge in profit for the quarter ended Dec. 31, 2016. The company has earned $1.98 million, or $0.12 a share in the quarter, compared with $3.80 million, or $0.22 a share for the same period last year. Revenue during the quarter dropped 8.65 percent to $61.86 million from $67.72 million in the previous year period. Gross margin for the quarter contracted 177 basis points over the previous year period to 19.89 percent. Total expenses were 95.62 percent of quarterly revenues, up from 91.56 percent for the same period last year. That has resulted in a contraction of 405 basis points in operating margin to 4.38 percent.
Operating income for the quarter was $2.71 million, compared with $5.71 million in the previous year period.
"We are certainly pleased to report record full-year net income of $19 million, or $1.11 per diluted share, for 2016," said Mark Weber, president and chief executive officer. "We are disappointed in our fourth quarter financial results, however, we had a solid rebound in order activity during the fourth quarter as retail orders increased 11% sequentially from the third quarter and fleet order intake remained strong through January." "Our order backlog at the end of January 2017 was $115.8 million, up 13.1% or $13.4 million, compared with January of 2016, excluding $1.2 million of Trolley backlog," Weber added.
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