Rush Enterprises releases fourth quarter earnings

Rush Enterprises announced gross revenues of $458.5 million for the fourth quarter of 2007, a 27% decrease from $632.1 million for the fourth quarter of 2006. Net income for the fourth quarter was $12.3 million, $.32 per diluted share, compared to $15.9 million, or $.42 per diluted share of the previous fourth quarter.

The company had gross revenue of $2.0 billion in 2007, down 14% from $2.4 billion in 2006. Net income for the year was $51.5 million, or $1.33 per diluted share, a 12% decrease from $58.8 million or $1.55 per diluted share in 2006.

“While the truck industry experienced a significant decline in both U.S. medium and Class 8 truck sales, our earnings only decreased 12%,” said W. Marvin Rush, chairman of Rush Enterprises, Inc. “Rush Enterprises’ 2007 earnings were the second highest earnings in the Company’s 42-year history.”