Commercial Vehicle Group was back in the black in the third quarter, booking operating income of $5.1m compared to an operating loss of $7.8m for the third quarter of 2009.
Net income was $1.1m for the quarter compared to a net loss of $15.9m on revenues of $150.9m, up from $110.8m in Q3 2009.
“We are pleased to see the continued signs of recovery in several of our key end markets and the benefits of our profit improvement initiatives, which are reflected in our positive results,” said president and CEO Mervin Dunn.
Revenues for the quarter compared to the prior-year period increased by approximately $40.1m, or 36.2%, due primarily to the increase in the company’s OEM construction, truck and military end markets and operating income for the quarter increased by approximately $12.9m compared to the prior-year period.
The company this week announced another wiring harness contract with VW group unit Skoda.
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