Heated and cooled vehicle seat maker Amerigon has reported a record US$10m in net profit for full year 2010 compared with $723,000 in 2009.
Sales rose 84% to a record $112.4m thanks mainly to what the supplier called a “much improved automotive marketplace” – it also makes heated and cooled mattresses and cup holders.
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Amerigon said it expected growth in 2011 but at a lower rate than 2010’s global 23% hike in vehicle output.
Gross margin was 29% in 2010 versus 26% in 2009.
Fourth quarter sales rose 34% to $28.9m, gross margin was 30% (29% previous year) and net profit more than doubled to $3.3m from $1.4m.
Unit shipments of climate controlled seat systems for the 2010 fourth quarter and year were 411,000 and 1.6m, respectively, compared with 309,000 and 874,000 in 2009.
