Remy International says its third quarter net sales were US$287.5m, an increase of 9% compared to US$262.8m for the same period last year.
Adjusted EBITDA was US$31.9m for the third quarter of 2014 compared to US$33.9m for the third quarter of 2013.
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The decrease of US$2m adjusted EBITDA is primarily driven by USA Industries’ loss of US$1.7m in the third quarter of 2014 due to what the company describes as “inefficiencies,” as a result of the announced closure of the New York facilities and impact of a flood during the quarter.
“The third quarter was certainly an active and challenging period for us with many moving parts,” said Remy International Jay Pittas.
“Despite the distractions, sales grew 9%, outpacing the market, with year-over-year increases across all product lines. Long term industry fundamentals remain favourable and support continued growth in vehicle and component sales.
“Our customer mix and regional diversification combined with our strategic global investments provide a solid foundation for the future.”
