Collins Industries sees higher profits

Collins said its fourth quarter net income for its fiscal 2001 increased to $1.05 million compared to $987,598 in the same period during its fiscal 2000. Collins said the higher profits mostly came from increased ambulance sales. The company’s fourth-quarter revenues, however, decreased 7% to $57million compared to $61.4 million in the same period in fiscal 2000 – mainly as a result of lower sales in terminal trucks and school buses.

For its fiscal 2001 year, Collins said sales decreased 6% overall to $207 million compared to $220.9 million in fiscal 2000. Net income also declined for fiscal 2001, dropping to $2.38 million from $4.15 million in fiscal 2000. The company added that its sales backlog as of October 31 was $38.8 million compared to $46.7 million at the same point last year.