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November 6, 2015

US: Cooper Standard records Q3 net income of US$32.7m

Cooper-Standard has unveiled reported net income of US$32.7m and adjusted EBITDA of US$93.3m on sales of US$827.5m for the third quarter of 2015.

Cooper-Standard has unveiled reported net income of US$32.7m and adjusted EBITDA of US$93.3m on sales of US$827.5m for the third quarter of 2015. 

These results compare to net income of$22.7m and adjusted EBITDA of $66.6m on sales of $781m in the third quarter of 2014. 

"During the third quarter we were able to combine operating improvements with strong sales growth on key platforms to once again drive margins significantly higher year-over-year," said Cooper Standard chairman and CEO, Jeffrey Edwards.

"We are very pleased with our results through the first nine months of the year and we look forward to finishing the year strong with continued focus on margin improvement and cash generation."

Net income of US$32.7m for the third quarter of 2015 included after tax restructuring expense of US$8m

Net income of US$22.7m in the third quarter of 2014 included after tax amounts of US$15.3m for a gain on the divestiture of the Company's thermal and emissions business and US$4.9m in restructuring expense. 

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