CHARLOTTE, Mich., Oct. 12, 2017 /PRNewswire/ -- Spartan
Motors, Inc. (NASDAQ: SPAR) ("Spartan" or the "Company"), a global
leader in specialty chassis and vehicle design, today will host an
analyst and investor day for Wall Street analysts and institutional
investors to unveil the Company's long-term growth objectives.
Management presentations will feature Spartan Motors executives
Daryl Adams, President and Chief
Executive Officer; Rick Sohm, Chief
Financial Officer; and divisional presidents who together will
provide an in-depth overview of how the Company has laid a solid
foundation for Spartan to drive profitable and sustainable
growth.
"Through improved operational discipline and performance,
increased accountability and an acute focus on strengthening our
team, we are accelerating growth," said Adams. "Spartan Motors'
financial momentum is increasing because of these changing
dynamics, and we are excited to share our progress and the goals we
have set for our future."
2017 marks an inflection point for
the Company. Spartan returned to its core competencies to drive
profitability and has focused on profitable orders in its strategic
shift toward a more valuable product mix. The Company has achieved
profitability on an adjusted
basis for six straight quarters and has built a solid
foundation for the business, creating the necessary momentum to
command their road ahead.
Fueled by a strong balance sheet, industry-leading innovation
and a proven management team, Spartan's path forward will be
focused on becoming a purpose driven organization. The Company
looks to accelerate growth through a customer-centric focus,
disruptive innovation, solutions-based products, streamlined
operations, and a disciplined approach to identifying strategic
opportunities. Today, Spartan is sharing details of its long-term
growth objectives:
- Become the #1 or #2 player in each market it serves
- $1 billion in sales by 2020,
versus sales of $506.8 million in
2014, representing an approximate 12-percent compound annual growth
rate
- 10% adjusted EBITDA margin, with earnings outpacing top-line
growth
"We saw the potential to nearly double revenues and have set an
aspirational, yet achievable goal with our long-term growth
strategy," continued Adams. "We've never provided this level of
detail as a company, and these objectives represent the visibility
we now have as an organization after establishing a solid
foundation for continued growth. This path forward demonstrates our
commitment to simplify and strengthen the Company to thrive through
any market cycle."
A live audio webcast (and post-event replay) of the formal
presentations are accessible on the Company's website,
www.spartanmotors.com/investor-relations. Presentation slides are
also available at the same site.
About Spartan Motors
Spartan Motors, Inc. is a leading
designer, engineer, manufacturer and marketer of a broad range of
specialty vehicles, specialty chassis, vehicle bodies and parts for
the fleet and delivery, recreational vehicle (RV), emergency
response, defense forces and contract assembly (light/medium duty
truck) markets. The Company's brand names — Spartan Motors, Spartan
Specialty Vehicles, Spartan Emergency Response, Spartan Parts and
Accessories, Smeal and its family of brands, including Ladder
Tower™ and UST®; and Utilimaster®, a Spartan Motors Company — are
known for quality, durability, performance, customer service and
first-to-market innovation. The Company employs approximately 2,200
associates, and operates facilities in Michigan, Indiana, Pennsylvania, Missouri, Wisconsin, Nebraska, South
Dakota; Saltillo, Mexico;
and Lima, Peru. Spartan reported
sales of $591 million in 2016. Visit
Spartan Motors at www.spartanmotors.com.
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SOURCE Spartan Motors, Inc.