US: Remy International profits plummet as 2014 sales rise

Remy International's Q4 2012 operating income was down 41.9% to $12.7m compared with $21.8m. Income before income taxes was down 56.2% to $7.68m from $17.5m. Net income was up 1.25% to $11.7m from $11.6m.

February 19, 2015

Remy International’s Q4 2012 operating income was down 41.9% to $12.7m compared with $21.8m. Income before income taxes was down 56.2% to $7.68m from $17.5m. Net income was up 1.25% to $11.7m from $11.6m.

Sales were down 5.31% to US$281.4m from $297.2m.

Full year operating income was down 43.7% to $26.2m. Income before income taxes was down 75.3% to $6.12m and net income down 59.9% to $6.07m on sales up 3.7% to $1.18bn.

“We reported improved sales despite weaker economic conditions internationally,” said president and CEO Jay Pittas. “Revenues grew 4% with improved demand for North American on-highway trucks and passenger vehicle aftermarket parts.