Sales for the third quarter were $40.6 million compared to $42.9 million for the same quarter a year earlier. Net income was $347,833 compared to $1.561 million for the same quarter a year earlier.
Sales for the nine months ended June 30 were a record $108.56 million compared to $101.9 million a year earlier. Net income was $1.625 million compared to $3 million during the prior year.
"Sales and earnings during the third quarter reflect a slowdown in truck chassis sales in the E-Z Pack and Galion Dump divisions, as well as deep discounting of truck chassis in the Galion Dump Body division," said Kenneth McClain, president and CEO. "We expect the discounting of chassis in the Galion dump Body division to continue for the remainder of Fiscal 2000."
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