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February 12, 2013
08:05 EDTSPARSpartan Motors expects operating loss for Q1, consensus 2c
The company said, "In the first quarter of 2013, we expect Utilimaster's move to Bristol to adversely impact production levels at our DSV unit. In addition, the industry is experiencing a shortage of certain stripped chassis used in walk-in van production. We are working with other chassis manufacturers and our customers to mitigate the impact of the shortage, which we expect to be an issue primarily in the first half of 2013. Our other operating segments are also expected to experience seasonally lower production rates during the first quarter. Because of lower production rates and the costs of the Bristol relocation project, we expect to post an operating loss for the first quarter of 2013. For the remainder of 2013 we expect improved financial results from the completion of the Bristol move, ramp-up of DSV production and our gross margin improvement plan."
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November 24, 2014
08:48 EDTSPARSpartan Chassis awarded ILAV subcontract by BAE Systems
Spartan Chassis, a business unit of Spartan Motors (SPAR), announced that its Defense and Government operating group has been awarded a subcontract from defense contractor BAE Systems (BAESY) to support the production of 22 International Light Armored Vehicles, or ILAVs. The subcontract is the second delivery order against a three year Indefinite Delivery, Indefinite Quantity, or IDIQ, contract and validates the diversified growth and operational strengths of the Spartan Defense and Government, or SDG, business unit. These vehicles perform specialized, mission-critical tasks such as supporting convoy operations, investigating possible improvised explosive devices, or IEDs, and additional rapid response needs. Under the terms of the subcontract, Spartan will provide automotive integration, final assembly, coordination of Government inspection and delivery to the Government. Production for the units will begin in February 2015 on Spartan's Charlotte campus with an expected completion of June 2015.
November 18, 2014
12:44 EDTSPARSpartan Motors management to meet with Sidoti
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