Helping keeping car occupants’ buns warm or cool paid off for climate control seat specialist Gentherm in the second quarter and first half of 2014.
Q2 revenues were up 28% to $206.2m.
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Gentherm noted European-based sales were significantly higher year on year in Q2 “as local economies and car sales continue to improve”.
Net income was $16.4m, or $0.46 per versus $5m ($0.15) a year earlier.
Gross margin increased to 29.5% from 25%.
Adjusted EBITDA was $32.3m, up $15.8m or 95%.
H1 revenues increased 29.7% to $400.1m, net income attributable to common shareholders for the first six months of 2014 was $33m vs $12.7m in H1 2013, gross margin was 29.4% (25.7%) and adjusted EBITDA was $64.8m versus $34.7m a year ago.
Gentherm expects 2014 revenue to increase by at least 20% over 2013’s $662m.
