Tow-truck maker Miller Industries on Wednesday posted better net income in the fourth quarter over a year ago driven by stable demand.
Net income in the quarter was $11.7 million, or $1.03 per diluted share, an increase of 8.3%, compared to net income of $10.8 million, or 95 cents per diluted share, in the prior-year period, the Chattanooga-based company reported.
Gross profit for the fourth quarter was $26.9 million, or 13.3% of net sales, compared to $22.2 million, or 12.3% of net sales, for the fourth quarter of 2018, the company said.
Jeffrey I. Badgley, Miller's co-chief executive officer, said that strong fourth quarter results, capped off a record-setting year for the company.
"During the fourth quarter and full year, revenue increased year-over-year by 12.9% and 15.0%, respectively," he said.