| Address:
|
1000 REYNOLDS RD
P O BOX 440 |
| City: |
CHARLOTTE |
|
State: |
MI |
|
Zip Code: |
48813 |
| Telephone: |
517-543-6400 |
|
Description of Business
|
Primary SIC Code:
3711 |
| (As filed with the SEC)
|
|
|
When used in this Form 10-K, "Company" refers to Spartan Motors, Inc. and,
depending on the context, could also be used to refer generally to the Company
and its subsidiaries, which are described below.
General
Spartan Motors, Inc. was organized as a Michigan corporation on September 18,
1975, and is headquartered in Charlotte, Michigan. Spartan Motors began
development of its first product that same year and shipped its first fire truck
chassis in October 1975.
The Company is known as a leading, niche market engineer and manufacturer in the
heavy-duty, custom vehicles marketplace. The Company has four wholly owned
operating subsidiaries: Spartan Motors Chassis, Inc., located at the corporate
headquarters in Charlotte, Michigan ("Spartan Chassis"); Crimson Fire, Inc.
located in Brandon, South Dakota ("Crimson"); Crimson Fire Aerials, Inc.,
located in Ephrata, Pennsylvania ("Crimson Aerials"); and Utilimaster
Corporation, located in Wakarusa, Indiana ("Utilimaster"). ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 09/2011 | 0.11 | 0.050 | 37.55 | | 06/2011 | 0.20 | NA | 27.00 | | 03/2011 | 0.18 | 0.050 | 38.11 | | 12/2010 | 0.22 | NA | 27.68 | | 09/2010 | 0.07 | 0.050 | 66.29 | | 06/2010 | -0.07 | NA | N/E | | 03/2010 | 0.17 | 0.050 | 32.94 | | 12/2009 | 0.36 | NA | 15.64 |
Key Financial Ratios and Statistics |
FYE:
12/31 |
| Profitability |
2010 |
Leverage |
2010 |
| Net Inc/Comm Equity | 0.06 | Total Liab/Total Assets | 0.24 | | Net Inc/Total Assets | 0.02 | Total Liab/Inv Cap | 0.29 | | Net Inc/Inv Cap | 0.02 | Total Liab/Comm Equity | 0.85 | | Pretax Inc/Net Sales | 0.02 | Interest Coverage Ratio | 11.79 | | Net Inc/Net Sales | 0.01 | Curr Debt/Equity | 0.00 | | Cash Flow/Net Sales | 0.08 | LTD/Equity | 0.03 | | SG&A/NetSales | 0.09 | Total Debt/Equity | 0.03 |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 8.19 | Quick Ratio | 1.91 | | Inventory Turnover | 5.22 | Current Ratio | 3.35 | | Inventory Day Sales | 0.02 | Net Rec/Curr Assets | 0.44 | | Net Sales/Work Cap | 4.89 | Inv/Curr Assets | 0.43 | | Net Sales/PP&E | 6.75 | | |
Income Statement (Millions) |
| |
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Total Revenues(Net Sales)
|
120.30
|
99.36
|
95.13
|
126.88
|
|
Cost of Goods Sold
|
99.86
|
86.64
|
82.17
|
107.43
|
|
Selling & Admin Exps
|
11.00
|
12.56
|
10.74
|
10.88
|
|
Operating Income
|
5.28
|
-3.64
|
-1.33
|
4.59
|
|
Interest Exp
|
0.09
|
0.08
|
0.10
|
0.14
|
|
Pretax Income
|
5.12
|
-3.65
|
-1.34
|
4.66
|
|
Other Income
|
-0.07
|
0.07
|
0.08
|
0.21
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
3.20
|
-2.22
|
-0.90
|
3.43
|
|
Assets
|
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Cash & Short Term Investments
|
30.51
|
30.63
|
24.99
|
14.51
|
|
Receivables - Total
|
53.26
|
44.61
|
51.03
|
61.65
|
|
Inventories - Total
|
64.88
|
61.70
|
61.44
|
60.16
|
|
Total Current Assets
|
150.31
|
139.59
|
140.82
|
139.95
|
|
Net Property, Plant & Equipment
|
66.82
|
67.84
|
70.37
|
71.27
|
|
Total Assets
|
251.37
|
241.96
|
246.19
|
241.75
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
40.74
|
35.12
|
37.57
|
30.19
|
|
Debt in Current Liabilities
|
0.06
|
0.08
|
0.09
|
0.10
|
|
Total Current Liabilities
|
51.92
|
44.43
|
46.32
|
41.72
|
|
Long-Term Debt
|
5.10
|
5.11
|
5.12
|
5.12
|
|
Total Liabilities
|
68.08
|
62.13
|
63.64
|
58.77
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
NA
|
NA
|
NA
|
NA
|
|
Preferred Stock
|
0.00
|
0.00
|
0.00
|
0.00
|
|
Common Stock
|
0.34
|
0.33
|
0.33
|
0.33
|
|
Retained Earnings
|
112.34
|
109.14
|
113.03
|
113.93
|
|
Treasury Stock
|
NA
|
NA
|
NA
|
NA
|
|
Total Stockholders' Equity
|
183.29
|
179.82
|
182.55
|
182.98
|
|
Total Liabilities and Stockholders' Equity
|
251.37
|
241.96
|
246.19
|
241.75
|
Cash Flow Summary (Millions) |
|
Categories
|
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Net Cash Provided by Operating Activities
|
1.50
|
8.42
|
16.52
|
8.95
|
|
Net Cash Provided by Investing Activities
|
-1.16
|
-1.00
|
-6.13
|
-0.12
|
|
Net Cash Provided by Financing Activities
|
-0.47
|
-1.78
|
0.09
|
-11.40
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 12/2006 | 445.38 | 16.83 | 0.55 | | 12/2007 | 681.92 | 24.50 | 0.75 | | 12/2008 | 844.39 | 42.71 | 1.32 | | 12/2009 | 409.54 | 11.77 | 0.36 | | 12/2010 | 480.74 | 4.14 | 0.22 | | Growth Rates | 1.93 | -29.57 | -20.47 |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 12/31/11 | 107 | 22,037 | 65.63 |
|
Report Date :
2/6/2012
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