Heated and cooled seat specialist Gentherm, formerly Amerigon, has unveiled third quarter net income attributable to common shareholders of US$2.6m.
Revenues for the 2012 third quarter increased 12% to US$141.1m from US$125.6m in the prior year period.
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Gentherm recently aqcuired a majority interest in WET Automotive Systems, a publicly-traded German automotive thermal control and electronic components company, with WET revenue totalling US$6.5m for the third quarter.
New programme launches for the company’s Climate Control Seat include the Ford Flex, Nissan Pathfinder, Infiniti JX, Hyundai i40 and Kia K9 Cadenza.
Certain existing vehicle programmes had higher revenue during the period as a result of Gentherm’s customers expanding the availability of the product to additional geographic regions.
This includes the Kia Optima, which is now also offered in China and North America.
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By GlobalData“We had another strong quarter of growth and achieved a significant milestone with the shipment of our 10 millionth Climate Control Seat during the period,” said Gentherm president and CEO, Daniel Coker.
“Our seat systems for the automotive market continue to gain popularity, which we think reflects the importance of our proprietary thermal technology and our engineering capabilities, as well as the growing consumer interest in driver and passenger comfort.
Gentherm is expecting revenue growth for the full year in the range of 10% over the combined Gentherm/WET 2011 revenues, which were US$501.2m on a full year pro-forma basis.
