Spartan Motors Inc. (SPAR, Financial) filed Annual Report for the period ended 2010-12-31.
Spartan Motors Inc. has a market cap of $198 million; its shares were traded at around $5.96 with a P/E ratio of 23.8 and P/S ratio of 0.4. The dividend yield of Spartan Motors Inc. stocks is 1.7%. Spartan Motors Inc. had an annual average earning growth of 15.5% over the past 10 years.
In 2010, the Company s customer base included two major customers, as defined by sales of more than 10% of total net sales. Sales to BAE Systems (“BAE”) and to Fleetwood RV, which are both customers of Spartan Chassis, were $65.2 million and $48.7 million respectively for 2010.
In 2009, the Company had one defined major customer. Sales to BAE were $91.5 million. This compares to 2008 major customer sales of $313.8 million to BAE, $134.0 million to General Dynamics and $105.2 million to Force Protection.
Sales to customers outside the United States were $14.2 million, $11.1 million and $11.2 million for the years ended December 31, 2010, 2009 and 2008, respectively, or 2.9%, 2.6% and 1.3%, respectively, of sales for those years. All of the Company s long-lived assets are located in the United States.
At December 31, 2010, the Company had backlog orders for Specialty Vehicles of approximately $110.6 million, compared with a backlog of $200.0 million at December 31, 2009. At December 31, 2010, the Company had backlog orders for Service and Delivery Vehicles of approximately $23.9 million, compared with a backlog of $34.1 million at December 31, 2009. The decline in the Company s backlog orders in 2010 is attributable to a large number of pre-orders related to the 2010 engine emissions change, a large order received by our Service and Delivery Vehicles segment late in 2009, and the current overall softness of the fire truck market. The Company expects to fill all of the backlog orders at December 31, 2010 during 2011.
Read the The complete Report
Spartan Motors Inc. has a market cap of $198 million; its shares were traded at around $5.96 with a P/E ratio of 23.8 and P/S ratio of 0.4. The dividend yield of Spartan Motors Inc. stocks is 1.7%. Spartan Motors Inc. had an annual average earning growth of 15.5% over the past 10 years.
Highlight of Business Operations:
The Company s success depends on its ability to respond quickly to changing market demands and new regulatory requirements. Thus, it emphasizes research and development and commits significant resources to develop and adapt new products and production techniques. The Company dedicates a portion of its facilities to research and development projects and focuses on implementing the latest technology from component manufacturers into existing products and manufacturing prototypes of new product lines. The Company spent $16.9 million, $17.0 million, and $18.8 million on research and development in 2010, 2009, and 2008, respectively.In 2010, the Company s customer base included two major customers, as defined by sales of more than 10% of total net sales. Sales to BAE Systems (“BAE”) and to Fleetwood RV, which are both customers of Spartan Chassis, were $65.2 million and $48.7 million respectively for 2010.
In 2009, the Company had one defined major customer. Sales to BAE were $91.5 million. This compares to 2008 major customer sales of $313.8 million to BAE, $134.0 million to General Dynamics and $105.2 million to Force Protection.
Sales to customers outside the United States were $14.2 million, $11.1 million and $11.2 million for the years ended December 31, 2010, 2009 and 2008, respectively, or 2.9%, 2.6% and 1.3%, respectively, of sales for those years. All of the Company s long-lived assets are located in the United States.
At December 31, 2010, the Company had backlog orders for Specialty Vehicles of approximately $110.6 million, compared with a backlog of $200.0 million at December 31, 2009. At December 31, 2010, the Company had backlog orders for Service and Delivery Vehicles of approximately $23.9 million, compared with a backlog of $34.1 million at December 31, 2009. The decline in the Company s backlog orders in 2010 is attributable to a large number of pre-orders related to the 2010 engine emissions change, a large order received by our Service and Delivery Vehicles segment late in 2009, and the current overall softness of the fire truck market. The Company expects to fill all of the backlog orders at December 31, 2010 during 2011.
Read the The complete Report
