For the third quarter ended Sept. 30, 2012, Rush Enterprises Inc.’s net income was $14.9 million, compared with net income of $16 million in the same quarter in 2011.
The company said it continued to implement its strategy to extend its geographic footprint this quarter, signing an agreement to purchase certain assets of a dealership group in Ohio with International, IC Bus, Isuzu and Idealease franchises. The agreement includes locations in Akron, Cincinnati, Cleveland, Columbus, Dayton, Findlay and Lima, Ohio. While this transaction remains subject to regulatory approval, Rush Enterprises plans to complete the acquisition by year-end and expects it to be accretive to future earnings.
"When complete, the newly acquired dealership locations will operate within our Rush Truck Centers’ Navistar Division, said W. M. "Rusty" Rush, CEO and president of Rush Enterprises. "We are excited to not only expand our Navistar Division, but also bring our philosophy and service commitment to customers in Ohio as well as add service points to our network."
Rush also relocated its full-service dealership in Phoenix, Ariz., to a newly renovated facility, tripling the company’s service capabilities in that market. A grand opening for the new facility will take place in November.
Rush Enterprises Inc.
www.rushenterprises.com