Rush Enterprises, which operates a network of Peterbilt truck and John Deere construction equipment dealerships, saw its first quarter 2002 net income climb 180% despite an 11.1% decline in revenues.
Rush said its gross revenues totaled $181.7 million in the first quarter of 2002, down from $204.5 million in the same period of 2001. Net income, however, rose to $434,000 for the period, compared to $155,000 in the first quarter of last year.
Chairman & CEO W. Marvin Rush said that net income increased for the quarter, despite a 30% drop in new truck deliveries, due to growth of higher margin parts and service business.
