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Miller Industries (MLR)

You've probably never ridden in one of the vehicles made by Miller Industries, but it's a good bet your car has. The Ooltewah (Tenn.) company makes everything from the car carriers and multivehicle trailers used to deliver new cars to dealerships, to the wreckers used by towing crews. Miller has been a comeback story: Soaring fuel and insurance prices left many tow operators unable to afford new equipment earlier this decade -- putting Miller in a ditch. But Miller sold off some assets, converted debt into shares, and pushed through price hikes where it could. The result: The company has swung from four consecutive years of losses through 2003 to a profit of $18.6 million in 2005, while its shares have soared from around $4 to $20, after shooting up to $28. For investors, that has made for a sweet ride.

Company Info

2005 Rank

NR

Market Value*
($ Millions)

308.0

Sales*
($ Millions)

368.4

Sales Growth
(3-yr. avg. annual)

19.6 %

Profits*
($ Millions)

22.5

Profit Growth
(3-yr. avg. annual)

86.3 %

Return on Inv. Capital (3-yr.)

12.1 %

Share Price
12-Mo. Hi/Lo

29/10

Share Price
As of 4/28/06

27

Return on Equity

31.7 %

P/E Ratio

14

No. of Employees

900

Industry Construction & Farm Machinery & Heavy Trucks
CURRENT
MARKET INFO

MLR >

COMPANY WEB SITE >
Location Ooltewah, Tenn.
Phone 423 238-4171
*Trailing 12 months
Stock price data as of 4/28/06
DATA: Standard & Poor's Compustat

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Company Snapshot

Miller Industries, Inc. manufactures vehicle towing and recovery equipment. It offers a range of wrecker, car carrier, and trailer bodies. Its wreckers range from the conventional tow truck to large recovery vehicles of 8 to 70 tons capability that are used to recover and tow disabled vehicles and other equipment. The company's car carriers are flat-bed vehicles with hydraulic tilt mechanisms that enable a towing operator to drive or winch a vehicle onto the bed for transport. Car carriers transport new or disabled vehicles and other equipment, as well as transport vehicles or other equipment over longer distances. Its multivehicle transport trailers are auto transport trailers with upper and lower decks and hydraulic ramps for loading vehicles. The trailers are used for moving multiple vehicles for auto auctions, car dealerships, leasing companies, and other applications. Miller Industries sells its products through independent distributors in the U.S., Canada, and Mexico, as well as in Europe, the Pacific Rim, and the Middle East. The company was founded in 1994 and is based in Ooltewah, Tenn.


Data provided by Capital IQ
 
Jeffrey I.  Badgley/ William G. Miller

Jeffrey I. Badgley/ William G. Miller, 54/ 59

Co-Chief Executive Officer


Total Compensation*

$ 308841 / 180000

Total Options Value*

$ 1,365,840

* Fiscal Year 2005


Executive Bio

Jeffrey Badgley has been co-CEO of Miller Industries since October, 2003; president since June, 1996; and a director since January, 1996. Badgley had been CEO of Miller Industries since November, 1997. Badgley served as vice-president of Miller from 1994 to 1996, and as chief operating officer from June, 1996, to June, 1997. In addition, Badgley has served as president of Miller Industries Towing Equipment since 1996. Badgley served as vice-president, sales, of Miller Industries Towing Equipment from 1988 to 1996. He previously served as vice-president, sales and marketing, of Challenger Wrecker, from 1982 until joining Miller Industries Towing Equipment Inc.

William Miller has been chairman of the board of Miller Industries since April, 1994, and serves as a director. Miller also serves as a member of nominating committee. He has been Co-CEO of Miller Industries since October, 2003. Miller served as CEO of Miller Industries from April, 1994, until June, 1997. From January, 2002, to August, 2002, Miller served as the CEO of Team Sports Entertainment, as well as Team Sports Entertainment's subsidiary, Team Racing Auto Circuit. In June, 1997, he was named co-CEO, a title he shared with Miller Industries President Jeffrey Badgley until November, 1997. Miller also served as president of Miller Industries from April, 1994, to June, 1996. He served as chairman of Miller Group from August, 1990, through May, 1994, as its president from August, 1990, to March, 1993, and as its CEO from March, 1993 until May, 1994. Prior to 1987, Miller served in various management positions for Bendix, Neptune International, Wheelabrator-Frye, and the Signal Companies.


Management Team

Key Executives

William G. Miller; Jeffrey I. Badgley; J. Vincent Mish; Frank Madonia

Board Directors

A. Russell Chandler; Paul E. Drack; Richard H. Roberts; Jeffrey I. Badgley; William J. Miller;


Executive Data provided by Capital IQ