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Spartan Motors, Inc.

CHARLOTTE, Michigan, April 8, 2002 - Spartan Motors, Inc.
today said net sales for the first quarter ended March 31, 2002 were
significantly higher than analyst estimates, reflecting strong sales of its
premium motorhome chassis, fire truck chassis and emergency-rescue vehicles.


 

The Charlotte, Mich.-based manufacturer of custom chassis and
emergency-rescue vehicles said sales for the first quarter of 2002 were
$66.9 million, due largely to higher-than-anticipated sales of recreational
vehicle chassis.  The Company said strong order flow from motorhome
manufacturers over the past five months and increased manufacturing
productivity contributed to the increase in shipments during the first
quarter. Spartan Motors said sales of its fire truck chassis and
emergency-rescue vehicles remain strong and were in line with expectations.


 

"We are pleased with the strength of our first-quarter sales, particularly
in the RV industry," said John Sztykiel, president and chief operating
officer of Spartan Motors.  "Our first-quarter sales of motorhome chassis
reflect the pent-up demand in the RV market that became evident in late
2001.  That said, we remain cautious about labeling this a trend, as there
are a variety of factors that could impact sales in the RV and
emergency-rescue markets moving forward.  We will continue to focus on
improving operations and developing innovative new products for our core
markets in order to build long-term value for Spartan Motors customers,
employees, business partners and shareholders."

 

As a result of higher sales levels, Spartan Motors said its first-quarter
earnings would be higher than analysts' estimates; however, the Company did
not provide a range of estimated earnings.   Spartan Motors will release its
first-quarter results prior to market open on April 25.   

 

Analysts for the two firms following Spartan Motors had estimated
first-quarter sales would be between $55.3 million and $57.5 million.   The
analysts had predicted Spartan would earn between $0.15 and $0.16 per share.



 

Spartan Motors, Inc. (www.spartanmotors.com) is a leading developer and
manufacturer of custom chassis for recreational vehicles, fire trucks,
ambulances and other specialty vehicles.  The Company also owns fire and
rescue vehicle manufacturers Luverne Fire Apparatus, Quality Manufacturing
and Road Rescue, Inc. 

 

The statements contained in this news release include certain predictions
and projections that may be considered forward-looking statements by the
securities laws.  These statements involve a number of risks and
uncertainties, including but not limited to economic, competitive,
governmental and technological factors affecting the Company's operations,
markets, products, services and prices, and actual results may differ
materially.