Miller Industries Reports 2016 Third Quarter Results

Mr. Badgley concluded, "We continue to enhance shareholder value by maintaining a healthy balance sheet and productively utilizing our assets. Our business position remains steady as we look forward to a solid close to 2016, and we are very positive about our prospects for next year."

In conjunction with this release, the Company will host a conference call, which will be simultaneously broadcast live over the Internet. Management will host the call, which is scheduled for tomorrow, November 10, 2016, at 10:00 AM ET. Listeners can access the conference call live and archived over the Internet through a link at:

https://www.webcaster4.com/Webcast/Page/1034/18171

Please allow 15 minutes prior to the call to visit the site, download, and install any necessary audio software. A replay of this call will be available approximately one hour after the live call ends through November 24, 2016. The replay number is 1-844-512-2921, Passcode 1006965.

Miller Industries is The World's Largest Manufacturer of Towing and Recovery Equipment®, and markets its towing and recovery equipment under a number of well-recognized brands, including Century®, Vulcan®, Chevron™, Holmes®, Challenger®, Champion®, Jige™, Boniface™, Titan® and Eagle®.

Certain statements in this news release may be deemed to be forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "may," "will," "should," "could," "continue," "future," "potential," "believe," "project," "plan," "intend," "seek," "estimate," "predict," "expect," "anticipate" and similar expressions, or the negative of such terms, or other comparable terminology. Forward-looking statements also include the assumptions underlying or relating to any of the foregoing statements. Such forward-looking statements are made based on our management's beliefs as well as assumptions made by, and information currently available to, our management. Our actual results may differ materially from the results anticipated in these forward-looking statements due to, among other things: the cyclical nature of our industry and changes in consumer confidence; economic and market conditions; our customers' access to capital and credit to fund purchases, including the ability of our customers to secure floor plan financing; our dependence on outside suppliers of raw materials; changes in the cost of aluminum, steel and related raw materials; changes in fuel and other transportation costs, insurance costs and weather conditions; changes in government regulation; various political, economic and other uncertainties relating to our international operations, including restrictive taxation and foreign currency fluctuation; competitors could impede our ability to attract or retain customers; our ability to develop or acquire proprietary products and technology; assertions against us relating to intellectual property rights; problems hiring or retaining skilled labor; a disruption in our information technology systems; the effects of new regulation relating to conflict minerals; the catastrophic loss of one of our manufacturing facilities; environmental and health and safety liabilities and requirements; loss of the services of our key executives; product warranty or product liability claims in excess of our insurance coverage; an inability to acquire insurance at commercially reasonable rates; and those other risks referenced herein, and those risks discussed in our filings with the Securities and Exchange Commission, including those risks discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for fiscal 2015, as supplemented in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2016, which discussion is incorporated herein by this reference. Such factors are not exclusive. We do not undertake to update any forward-looking statement that may be made from time to time by, or on behalf of, our Company.

Miller Industries, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(In thousands except per share data)
(unaudited)
	Three Months Ended						Nine Months Ended
	September 30						September 30
					%						%
	2016		2015		Change		2016		2015		Change
NET SALES	$147,597		$126,205		17.0%		$452,525		$404,530		11.9%
COSTS OF OPERATIONS	130,481		113,409		15.1%		403,402		362,241		11.4%
GROSS PROFIT	17,116		12,796		33.8%		49,123		42,289		16.2%
OPERATING EXPENSES:
Selling, General and Administrative Expenses	8,495		7,524		12.9%		24,823		22,612		9.8%
Interest Expense, Net	359		291		23.4%		816		699		16.7%
Other (Income) Expense, Net	(238)		(94)		153.2%		(451)		227		298.7%
Total Operating Expenses	8,616		7,721		11.6%		25,188		23,538		7.0%
INCOME BEFORE INCOME TAXES	8,500		5,075		67.5%		23,935		18,751		27.6%
INCOME TAX PROVISION	2,978		1,907		56.2%		8,466		6,653		27.3%
NET INCOME	$    5,522		$      3,168		74.3% Werbung Mehr Nachrichten zur Miller Industries Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 22.04.24 - PR Newswire Ashtead Group Plc - Transaction in Own Shares 22.04.24 - PR Newswire Rightmove Plc - Transaction in Own Shares 22.04.24 - PR Newswire Wood Group (John) Plc - Director/PDMR Shareholding Auf zur INVEST am 26.+ 27.04.2024    Foto: Landesmesse Stuttgart GmbH - Jetzt kostenloses Ticket sichern! weiterlesen» Anzeige wo-site-teaser-box-16688_site-teaser-box_2024-04-17_09%253A00%253A00_2024-04-22_09%253A00%253A59