8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED):

February 21, 2008

SUPREME INDUSTRIES, INC.

(Exact name of registrant as specified in its charter)

Delaware	1-8183	75-1670945
(State of incorporation)	(Commission File No.)	(IRS Employer Identification No.)

P.O. Box 237

2581 E. Kercher Road

Goshen, Indiana 46528

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code:  (574) 642-3070

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2- Financial Information

Item 2.02 Results of Operations and Financial Condition.

On February 21, 2008, Supreme Industries, Inc. (the “Company”) issued a press release (the “Press Release”) announcing its financial results for the fourth quarter and full year ended December 29, 2007.  A copy of the Press Release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K, and is incorporated by reference into this Item 2.02, and the foregoing description of the Press Release is qualified in its entirety by reference to Exhibit 99.1.

Pursuant to General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including the exhibit, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liability of that section, and is not incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Section 9 — Financial Statements and Exhibits

Item 9.01  Financial Statements and Exhibits.

(d)	Exhibits.
	The following exhibit is furnished with this Form 8-K:
	99.1	Press Release of the Company dated February 21, 2008.

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SUPREME INDUSTRIES, INC.
Date: February 21, 2008	By:	/s/ JEFFERY D. MOWERY
		Jeffery D. Mowery
		Vice President and Chief Financial Officer
		(Principal Financial and Accounting Officer)

3

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release of the Company dated February 21, 2008.

4

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Supreme Industries Reports

Fourth-Quarter and Full-Year 2007 Financial Results

Goshen, Ind.—Feb. 21, 2008—Supreme Industries, Inc. (AMEX: STS), a leading manufacturer of specialized commercial vehicles, including truck bodies, shuttle buses, armored vehicles and luxury motorcoaches, today announced financial results for its fourth quarter and full year ended Dec. 29, 2007.

Net income for the year’s final quarter improved 113 percent to $0.9 million, or $.07 per diluted share, up from $0.4 million, or $.03 per diluted share, a year ago. Full-year net income was $4.2 million, or $.32 per diluted share, versus $4.6 million, or $.36 per diluted share, for 2006. The 2007 and 2006 fourth-quarter results were favorably impacted by a $0.2 million and a $0.3 million income tax benefit, respectively, principally attributable to the true-up of the Company’s estimated effective federal and state tax rates used during the first three quarters to the actual effective tax rates for the fiscal year.

Due principally to the slowing economy and related reduction in demand in the truck manufacturing industry, fourth-quarter and full-year 2007 net sales decreased 4 percent and 8 percent, to $73.7 million and $313.3 million, respectively. This compares with net sales of $76.5 million and $340.7 million in the like periods of 2006. Year-over-year sales in the Company’s largest segment—dry freight vehicles—declined 23 percent. Partially offsetting this decline were sales increases of Supreme’s luxury motorcoach and armored products.

Gross profit margin as a percentage of net sales for the year improved slightly to 11.2 percent from 11.0 percent in 2006. Selling, general and administrative expenses declined for the fourth quarter and full year by 5 percent and 2 percent, respectively, compared with the same periods in 2006. The decline in SG&A reflected increased cooperative marketing funds from chassis manufacturers and lower commission-related expenses, partially offset by Sarbanes-Oxley compliance costs.

Supreme Industries, Inc.

2581 East Kercher Road · PO Box 463 · Goshen, IN 46527

Supreme President and Chief Operating Officer Robert W. Wilson commented, “As predicted, 2007 proved to be challenging for the truck manufacturing industry. However, management’s ongoing strategy of developing products for high-growth markets, such as the hybrid vehicle and homeland security sectors, pursuing incremental market opportunities derived from existing products and enhancing productivity and efficiency helped to mitigate the effects of the downturn on Supreme during the year.”

The Company reported strong cash flows that resulted in debt reduction of $10.9 million for 2007. The debt reduction represented more than 27 percent of long-term debt outstanding at the beginning of the year, and further strengthens Supreme’s balance sheet and capital structure. Interest expense declined 19 percent to $2.5 million from $3.1 million in 2006. Stockholders’ equity was $75.5 million, or $5.84 per share, at Dec. 29, 2007. At year-end, working capital totaled $59.5 million, compared with $66.6 million at year-end 2006. The working capital ratio at Dec. 29, 2007, was 3.3 to 1, while long-term debt as a percentage of the Company’s total assets improved to 21.7 percent from 27.3 percent at year-end 2006. Backlog at Dec. 29, 2007, was $87.0 million versus $97.5 million at year-end 2006.

Wilson continued, “Industry analysts are predicting down-cycle persistence through at least the first half of 2008, with the supply/demand dynamic for our core product group possibly tipping in our favor later in the year. Our strategy was validated in 2007 and Supreme is well positioned for the industry’s recovery.”

The Supreme Industries Board of Directors recently approved a cash dividend on its outstanding Class A and Class B Common Stock, based upon the Company’s financial condition and business prospects. Stockholders of record as of Feb. 25, 2008, will receive $0.095 for each share owned on that date, payable on March 3, 2008. This cash dividend is the eighteenth consecutive quarterly cash dividend since the Company commenced payment of regular cash dividends in 2003. Future cash dividend payments are necessarily subject to business conditions.

A live webcast of Supreme Industries’ earnings conference call can be heard today, Thursday, Feb. 21, 2008, at 4:30 p.m. Eastern Time at http://www.supremeind.com. Those unable to participate in the live conference call may access a replay available on the Company’s website until March 21, 2008.

To be added to Supreme Industries’ e-mail distribution list, please click on the link below:

http://www.clearperspectivegroup.com/clearsite/sts/emailoptin.html

Supreme Industries, Inc.

2581 East Kercher Road · PO Box 463 · Goshen, IN 46527

About Supreme

Supreme Industries, Inc. (STS), is a nationwide manufacturer of specialized truck bodies produced to the specifications of its customers. Supreme also manufactures special-purpose “shuttle-type” buses, armored vehicles and luxury motorcoaches. The Company’s transportation equipment products are used by a wide variety of industrial, commercial, law enforcement and Homeland Security customers.

News releases and other information on the Company are available on the Internet at:
http://www.SupremeInd.com

This report contains forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995), other than historical facts, which reflect the view of the Company’s management with respect to future events. When used in this report, words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” and similar expressions, as they relate to the Company or its plans or operations, identify forward-looking statements. Such forward-looking statements are based on assumptions made by and information currently available to the Company’s management. Although management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations are reasonable, and it can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from such expectations include, without limitation, limitations on the availability of chassis on which the Company’s product is dependent, availability of raw materials, raw material cost increases, and severe interest rate increases. Furthermore, the Company can provide no assurance that such raw material cost increases can be passed on to its customers through implementation of price increases for the Company’s products. The forward-looking statements contained herein reflect the current views of the Company’s management with respect to future events and are subject to those factors and other risks, uncertainties and assumptions relating to the operations, results of operations, cash flows and financial position of the Company. The Company assumes no obligation to update the forward-looking statements or to update the reasons actual results could differ from those contemplated by such forward-looking statements.

CONTACT:

Supreme Industries, Inc.
Robert W. Wilson, 574-642-4888
President and Chief Operating Officer

—FINANCIAL TABLES FOLLOW—

Supreme Industries, Inc.

2581 East Kercher Road · PO Box 463 · Goshen, IN 46527

Supreme Industries, Inc. and Subsidiaries

Consolidated Statements of Income

	Three Months Ended						Year Ended
	December 29,			December 30,			December 29,			December 30,
	2007			2006			2007			2006
Revenue:
Net sales	$	73,678,715		$	76,457,741		$	313,272,723		$	340,746,789
Cost of sales	65,895,038			68,586,130			278,089,294			303,182,249
Gross profit	7,783,677			7,871,611			35,183,429			37,564,540
Selling, general and administrative expenses	6,731,720			7,111,066			27,838,011			28,483,091
Other income	(204,420		)	(153,479		)	(594,654		)	(560,045		)
Operating income	1,256,377			914,024			7,940,072			9,641,494
Interest expense	540,559			759,033			2,472,267			3,054,726
Income before income taxes	715,818			154,991			5,467,805			6,586,768
Income taxes (benefit)	(166,000		)	(259,000		)	1,304,000			1,992,000
Net income	$	881,818		$	413,991		$	4,163,805		$	4,594,768
Earnings per share (EPS):
Basic	$	.07		$	.03		$	.32		$	.36
Diluted	.07			.03			.32			.36
Shares used in the computation of EPS:
Basic	12,903,479			12,705,211			12,829,699			12,696,598
Diluted	13,022,978			12,834,133			12,933,545			12,872,638
Cash dividends per share	$	.095		$	.095		$	.38		$	.38

Supreme Industries, Inc. and Subsidiaries

Consolidated Condensed Balance Sheets

	December 29,		December 30,
	2007		2006
Assets
Current assets	$	84,908,257	$	91,694,912
Property, plant and equipment, net	47,429,725		48,389,483
Intangible assets, net	1,371,891		1,420,261
Other assets	64,860		620,064
Total assets	$	133,774,733	$	142,124,720
Liabilities
Current liabilities	$	25,399,279	$	25,129,594
Long-term debt	29,002,718		38,863,229
Deferred income taxes	3,572,605		2,923,216
Other long-term liabilities	333,046		—
Total liabilities	58,307,648		66,916,039
Total stockholders’ equity	75,467,085		75,208,681
Total liabilities and stockholders’ equity	$	133,774,733	$	142,124,720

###