The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Thu Mar 1, 2018
Spartan Motors, Inc. (NASDAQ: SPAR), a leader in specialty chassis and vehicle design, on Wednesday reported a 19.7 percent increase in 2017 sales revenue, and an 82 percent increase in net income. Sales of motorhome chassis increased 27.1 percent.
Sales increased $116.3 million to $707.1 million from $590.8 million across the year, according to the comapany. Net income improved $7.3 million, or 85.2 percent, to $15.9 million, or $0.46 per share, from $8.6 million, or $0.25 per share. Adjusted EBITDA increased 37.0 percent to $31.3 million, or 4.4 percent of sales, from $22.9 million, or 3.9 percent of sales.
Specialty Chassis & Vehicles (SCV) segment sales increased 17.9 percent to $158.8 million from $134.8 million. Sales of motorhome chassis increased 27.1 percent to $124.6 million from $98.0 million, primarily due to increased motorhome shipments year-over-year as a result of market share gains.
Adjusted EBITDA increased $5.8 million to $14.1 million, or 8.9 percent of sales, from $8.3 million, or 6.2 percent of sales, a year ago, primarily due to increased sales and improved operational performance, the release says. The segment backlog at Dec. 31 totaled $33.8 million, up 68.7 percent, compared to $20.0 million at Dec. 31, 2016, as a result of increased motorhome orders
Fourth quarter 2017 highlights for the company, as a whole, included:
• Sales increased $35.2 million, or 24.1 percent, to $181.1 million from $145.9 million
• Gross profit margin improved 130 basis points to 13.6 percent of sales from 12.3 percent of sales
• Net income improved $1.5 million, or 158.9 percent, to $2.4 million, or $0.07 per share, from $0.9 million, or $0.03 per share
• Adjusted EBITDA increased 118.3 percent to $9.3 million, or 5.1 percent of sales, compared to $4.3 million, or 2.9 percent of sales
• Adjusted net income improved 156.4 percent to $3.9 million, or $0.11 per share from $1.5 million, or $0.04 per share
• Emergency Response segment was profitable, achieving $2.7 million of adjusted EBITDA
"With our 2017 fourth quarter net income more than doubling, which also marks our eighth consecutive profitable quarter on an adjusted basis, Spartan has successfully completed its turnaround and is now focused on its growth strategy as we move into 2018 and beyond," says Daryl Adams, Spartan president and CEO. "We can take pride in the strong performance we posted throughout the year, which was based on the actions we took to transition our company to a leader in purpose-built specialty vehicles that is focused on performance and innovation."
To read the entire announcement, CLICK HERE.