Miller Industries Inc. boosted its first-quarter sales by nearly 22 percent over last year and officials for the wrecker and towtruck equipment maker said they expect the upturn to continue through 2015.
The Ooltewah-based manufacturer reported Wednesday that net income rose 29.5 percent to $12 million, or 27 cents per share, on sales of $126.8 million during the first three months of 2015.
Jeffrey I. Badgley, Co-CEO of Miller Industries, said he was pleased with the results and said the company "continued to make inroads on a global scale" during the period.
"Overall, we remain enthusiastic about our long-term potential for growth," Badgley said in a statement accompanying the release of the first-quarter results after the stock market closed Wednesday. "We are continuing to see high levels of quoting activity domestically and internationally. Additionally, we recently attended the April Florida Tow Show, where customer sentiment was quite positive and our new product offerings were very well-received, which give us confidence in the long-term prospects of our business and in our ability to increase our current order levels."
The company also announced Wednesday that its board has declared a quarterly cash dividend of 16 cents per share, payable June 22, to shareholders of record at the close of business on June 15.