NOVI, Mich. (AP) — NOVI, Mich. (AP) — The Shyft Group, Inc. (SHYF) on Thursday reported fourth-quarter profit of $17.8 million.
The Novi, Michigan-based company said it had net income of 50 cents per share. Earnings, adjusted for one-time gains and costs, were 58 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The maker of chassis for Last Mile Delivery, RVs and other vehicles posted revenue of $302 million in the period.
For the year, the company reported profit of $36.6 million, or $1.03 per share. Revenue was reported as $1.03 billion.
The Shyft Group expects full-year earnings in the range of 97 cents to $1.59 per share, with revenue in the range of $1 billion to $1.2 billion.
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