John Woods at the Miller Industries manufacturing facility in Ooltewah makes a weld on a boom being installed on a large wrecker that will be sent to Africa.Chattanooga-based tow truck maker Miller Industries on Wednesday reported lower third-quarter profits on a drop in sales.
Net income in the quarter was $2.9 million including income tax benefits, or 26 cents per share, compared to $4.9 million, or 41 cents per share, a year ago, the company reported in a news release.
Net sales were $78 million in the latest period versus $96.8 million for the third quarter 2011.
Results in the third quarter did not include any government-related orders, which represented 22 percent of sales in the year-ago period, according to Miller.
Jeffrey I. Badgley, the company’s chief executive, said Miller has continued to execute even though the economic environment is soft and challenging.