Omer Kropf, president of Supreme Corporation, Supreme Industries' operating subsidiary, stated, "Fleet and leasing revenues more than doubled in the first six months of this year over 2003 results.
Coupled with an increase in revenue in all the Company's principal products, overall revenue improved considerably in the quarter and six-month periods.Additionally, five of our six manufacturing locations showed significant increases in revenues, with the sixth location only beginning production in January of this year.We anticipate that continued strong order intake, a healthy backlog and low inventory levels in our distribution channels bode well for continued revenue improvement in the second half of 2004 over the second half of 2003."
"During the first half of 2004, Supreme has made significant additions in property, plant and equipment to consolidate facilities and expand capacity.We acquired 30 acres and a manufacturing facility adjacent to our Jonestown, Pennsylvania, plant, 32 acres and a manufacturing facility in Cleburne, Texas, located in close proximity to an existing facility, and 10 acres adjacent to our Griffin, Georgia, facility," Mr. Kropf
continued."We continue to focus on the scope of our nationwide sales distribution and service to build Supreme's leading position in the truck body industry."
"Since the cost of the major commodities used in our products have not yet stabilized, we have implemented an additional five percent price increase in July."Mr. Kropf