From the CNNMoney.com report:
"'We are pleased with the results of the 2007 second quarter which saw us maintain historically high production levels, reinvest in our business and improve our overall financial strength," stated Jeffrey I. Badgley, President and Co-CEO of the Company. "During the previous year, we increased production levels to fulfill numerous large orders we received during the past several quarters. During the second quarter, we completed work on the orders for 62 small wreckers for the military and 80 small wreckers for a major municipality, as well as on the orders for the city of New York and DataPath. We also paid down the remainder of the Company's junior debt and in July successfully renewed and amended our senior credit facility, reducing our interest rate on borrowed funds going forward."
Mr. Badgley added, "We continued to work on modernizing our heavy-duty wrecker facility, which remains on schedule for completion this year. Our recently completed small wrecker facility has been performing well, and we look forward to the efficiency, customer service and product quality enhancements that these projects will bring going forward. We were also pleased with our Florida trade show in May, where we demonstrated new products that generated positive feedback from the industry.'"
Read the full story here.
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