Cooper Standard has reported revenue of US$768m for the fourth quarter of 2014, compared to US$794m in the same quarter of the previous year, with the company attributing the decline primarily to unfavourable foreign exchange of US$31.5m.
Full-year revenue was US$3.2bn, up from US$3.1bn in 2013, driven by an increase in production volume in North America, Europe and Asia Pacific.
Go deeper with GlobalData
In addition, the Jyco acquisition, which was completed in July, 2013, provided US$45.2m of incremental sales. Full year sales were partially offset by unfavourable foreign exchange and customer price concessions.
Gross profit for the fourth quarter of 2014 was US$117.8m, compared to US$105m for the fourth quarter of 2013.
For the full year 2014, the company generated a gross profit of US$509m, representing 15.7% of sales, compared to US$472.7m in 2013, or 15.3% of sales.
The increase was driven by the favourable impact of continuous improvement, material cost savings and increased production volumes in North America, Europe and Asia Pacific.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
