Stock investors may not be impressed by any sudden spurt in quarterly net income. However, when it comes on top of difficult operating conditions for this company, it speaks highly of management capability and strategic resilience. Tax benefits have dipped sharply in the fourth quarter for this company, compared to the same period for the previous year. The entire Auto & Truck Manufacturers Industry has experienced weak demand over the past 12 months. This is why the company has been hit by a 4% reduction in sales compared to the same period of 2006. However, Earnings per Share, which was just $0.03 last year, have climbed to $0.07.

Specialization seems to be this company’s mantra for sustained success. It is focused on truck bodies to meet the tightly defined needs of industrial clients. The company sources other vehicle components like chassis from vendors, allowing highly productive and lean concentration on its domain of expertise. Clients can choose between aluminum and plywood. The latter is strengthened with fiber-glass. Bodies can be fabricated to any dimensions that customers specify. The company also fits special aids for lifting and handling cargo. Such a high degree of customer integration has helped the management achieve outstanding business results in 2007.

The stock has opened the second fortnight of April 2008 at just $5.20. It appears set to cross the 52-week high of $8.11. The Price to Earnings Ratio is below 17, and institutions own 32% of the stock. The company is a good example of how to rise above challenging business conditions.

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