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RUSH ENTERPRISES Rush Enterprises , Inc. Reports Third Quarter 2021 Results , Announces $ 0.19 Per Share Dividend October 20 , 2021 • Revenues of $ 1.27 billion , net income of $ 69.4 million ● Earnings per diluted share of $ 1.20 Absorption ratio 134.0 % • Strong financial results due to economic recovery and expense management • Supply chain issues continue to impact new truck and aftermarket sales • Board declares cash dividend of $ 0.19 per share of Class A and Class B common stock SAN ANTONIO , Oct. 20 , 2021 ( GLOBE NEWSWIRE ) -- Rush Enterprises , Inc. ( NASDAQ : RUSHA & RUSHB ) , which operates the largest network of commercial vehicle dealerships in North America , today announced that for the third quarter ended September 30 , 2021 , the Company achieved revenues of $ 1.27 billion and net income of $ 69.4 million , or $ 1.20 per diluted share , compared with revenues of $ 1.18 billion and net income of $ 33.9 million , or $ 0.60 per diluted share , in the quarter ended September 30 , 2020. Additionally , the Company's Board of Directors declared a cash dividend of $ 0.19 per share of Class A and Class B common stock , to be paid on December 10 , 2021 , to all shareholders of record as of November 8 , 2021 . " We are incredibly proud of our team for achieving such impressive results in the third quarter , " said W.M. " Rusty " Rush , Chairman , Chief Executive Officer and President of Rush Enterprises , Inc. " We continued to see strong demand throughout the country for trucks and aftermarket products and services in the quarter , while our diligent approach to managing expenses allowed us to maintain strong profitability despite the challenges of the current business environment , " he added . " While demand for new trucks and aftermarket parts and services is healthy , our industry continues to be impacted by component supply chain issues that are directly affecting new truck production and the availability of aftermarket parts . However , we are well positioned to take advantage of every potential truck sales opportunity , and we believe the investments we have made in our technologies over the past few years will continue to help us mitigate the negative impact of parts supply constraints on our aftermarket business , " Rush said . " I would like to thank our employees for their impressive work and unwavering dedication to our customers , which helped us have such a strong quarter , " said Rush . " In recognition of their hard work , I am happy to announce that in mid - December , we will be giving a one - time discretionary $ 1,000 bonus to all employees who are employed with us as of that date . This is one small way for us to thank our people for being on the front lines during the COVID - 19 pandemic and for being focused on our company goals , while also focusing on the safety of their fellow employees , our customers and communities , " said Rush . Aftermarket Products and Services Operations Aftermarket products and services accounted for approximately 64.5 % of the Company's total gross profits in the third quarter , with parts , service and collision center revenues totaling $ 463.0 million , up 15.7 % compared to the third quarter of 2020. The Company achieved a record quarterly absorption ratio of 134.0 % in the third quarter of 2021 , compared to 119.4 % in the third quarter of 2020 . " Our significant parts and services revenue growth can be attributed primarily to the ongoing contributions from our aftermarket strategic initiatives and strong demand for aftermarket parts and services , as limited availability of new trucks causes older trucks to stay in operation longer , which in turns drives demand for parts and service . Our parts sales are at historically high levels , with widespread activity throughout the market segments we support . While parts sales are being negatively impacted by supplier constraints , the size of our nationwide parts inventory and strategic investments in tools and technologies have helped us mitigate some of the impact on our parts revenues , " Rush said . " Service revenues continued to gradually improve during the third quarter , which we largely attribute to an increase in technician hires and the improved proficiency of our technicians . Our service revenues were also positively impacted in the third quarter by our enhanced service communication technologies , our mobile service offerings , Xpress Services and contract maintenance offerings , " said Rush . " Looking ahead , we expect that demand for aftermarket parts and services will remain strong , and that supply constraints may continue to negatively impact the industry through mid - 2022 . With the economy expected to remain healthy and with our continued focus on implementing our parts and service strategic initiatives , we believe our aftermarket performance will remain strong throughout 2022. However , we also expect that our fourth quarter aftermarket revenues will be less than our third quarter aftermarket revenues due to seasonal softness as we enter the winter months , which is normal for our business , " Rush said . Commercial Vehicle Sales New U.S. Class 8 retail truck sales totaled 53,491 units in the third quarter of 2021 , up 2.5 % from the third quarter of last year , according to ACT Research . The Company sold 2,537 new Class 8 trucks in the third quarter , a decrease of 1.8 % compared to the third quarter of 2020 , which accounted for 4.7 % of the new U.S. Class 8 truck market . " While there was very strong demand for new trucks from a variety of market segments in the third quarter due to the overall strength of the economy