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.
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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.
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