Key Developments: Spartan Motors Inc (SPAR.OQ)

SPAR.OQ on NASDAQ Stock Exchange Global Select Market

6.02USD
1 Aug 2013
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Latest Key Developments (Source: Significant Developments)

Spartan Motors Inc Reaffirms FY 2013 Revenue Guidance; Issues Q3, Q4 2013 Guidance; Revenue Guidance In Line With Analysts' Estimates
8:01am EDT 

Spartan Motors Inc announced that it expect revenue and operating income in the third and fourth quarters of 2013 to increase from the second quarter of 2013 and the respective comparable quarters of 2012. For fiscal 2013, it expects to realize mid-single-digit revenue growth. The Company reported revenues of $120.87 million in the second quarter of 2013 and revenues of $470.58 million in the fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $135.50 million and EBIT of $6.83 million for the third quarter of 2013; revenues of $139.40 million and EBIT of $6.57 million for the fourth quarter of 2013; revenues of $489.17 million for fiscal 2013.  Full Article

Spartan Motors Inc Announces Dividend
Wednesday, 8 May 2013 01:00pm EDT 

Spartan Motors Inc announced that Board of Directors has declared a cash dividend of $0.05 per share of common stock. The Charlotte, Mich.-based manufacturer of custom chassis, emergency response and delivery and service vehicles reported its semi-annual dividend will be payable on June 27, 2013 to shareholders of record at the close of business on May 23, 2013.  Full Article

Spartan Motors Inc Comments On Q2, H2, FY 2013 Earnings Guidance; Issues FY 2013 Revenue Guidance Above Analysts' Estimates
Wednesday, 8 May 2013 08:01am EDT 

Spartan Motors Inc announced for second quarter of 2013, it expects modestly profitable, with improving profitability during the second half of 2013. For fiscal 2013, it expects to be profitable for the year as a whole and revenue growth of mid-single-digit. The Company reported revenue of $470.58 million for fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $484.20 million, net income of $6.47 million and EPS of $0.20 for fiscal 2013; net income of $1.07 million, EPS of $0.03 for second quarter of 2013; net income of $3.50 million, EPS of $0.10 for third quarter of 2013; net income of $3.57 million, EPS of $0.11 for fourth quarter of 2013.  Full Article

Spartan Motors Inc's Utilimaster Corporation And Clean Energy Fuels Corp's BAF Technologies Announces Preferred And Exclusive Installer Agreement
Thursday, 7 Mar 2013 08:30am EST 

Spartan Motors Inc's Utilimaster Corporation, a subsidiary of Spartan Motors, Inc. along with BAF Technologies, a wholly owned subsidiary of Clean Energy Fuels Corp., announced the formation of a preferred installer agreement between the two companies. Under the agreement, Utilimaster, is appointed the exclusive and preferred installer of the BAF Compressed Natural Gas system on the Ford F-59 walk-in van stripped chassis. The solution achieved both EPA and CARB certifications.  Full Article

Spartan Motors Inc's Utilimaster Corporation Announces Alliance With LandiRenzo
Thursday, 7 Mar 2013 08:30am EST 

Spartan Motors Inc's Utilimaster Corporation announced an alliance with LandiRenzo to offer Compressed Natural Gas (CNG) conversions on Isuzu NPR-HD Gas vehicles.  Full Article

Spartan Motors Inc Announces Chief Financial Officer Change
Wednesday, 6 Mar 2013 12:00pm EST 

Spartan Motors Inc announced that Joseph M. Nowicki is stepping down as Chief Financial Officer (CFO) and Treasurer to accept a position with another company. Lori L. Wade has been named Interim CFO and Treasurer, effective March 22, 2013.  Full Article

Spartan Motors Inc Announces Sale of Wakarusa, Indiana Facility
Monday, 7 Jan 2013 06:28pm EST 

Spartan Motors Inc announced the sale of the majority of its Wakarusa, Indiana facility to Forest River, Inc., a Berkshire Hathaway Company. This transaction was pursuant to Spartan's announcement on Feb. 14, 2012 that it will relocate the Company's Utilimaster operations to Bristol, Indiana from Wakarusa, Indiana. All terms of the transaction were in line with previously disclosed estimates.  Full Article

Spartan Motors Inc Announces Semi-Annual Cash Dividend
Tuesday, 30 Oct 2012 08:35am EDT 

Spartan Motors Inc announced that its board of directors has declared a semi-annual cash dividend of $0.05 per share of common stock. The Company reported its semi-annual dividend will be payable December 13, 2012 to shareholders of record at the close of business on November 8, 2012.  Full Article

Spartan Motors Inc's Spartan ERV Secures Contract For Units Equipped With New Advanced Protection System
Monday, 29 Oct 2012 09:21am EDT 

Spartan ERV (Emergency Response Vehicles), a business unit of Spartan Motors, Inc. announced that the City of Toronto Fire Services (TFS) has awarded Spartan ERV, and their authorized dealer Dependable Emergency Vehicles, an order for 12 custom fire apparatus. The Spartan ERV pumpers will be built on the Metro Star from Spartan Chassis with a Cummins 400HP ISL engine. All units in the order include the Advanced Protection System (APS) from Spartan Chassis. This system offers a number of industry-innovations including outboard sensors, side impact airbag protection, full side curtain airbags, driver's knee airbags and intelligent seat belts, as well as steering wheel mounted driver airbags and officer knee airbags. Spartan cab/chassis are designed, engineered and tested to meet stringent ECE-R29 and other structural safety standards.  Full Article

Spartan Motors, Inc. Raises FY 2012 Revenue Guidance
Thursday, 2 Aug 2012 08:01am EDT 

Spartan Motors, Inc. announced that its expectations for fiscal 2012 remain largely unchanged and expects revenue to increase from fiscal 2011 in the mid- to upper-single digits, a slight increase from its last update. The Company reported revenue of $426 million in fiscal 2011. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $444 million for fiscal 2012.  Full Article

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