Manufacturer, remanufacturer, and distributor of starters and alternators for light and heavy duty applications, locomotive products and hybrid/electric motors, Remy International has posted third quarter net income of US$13.8m ending 30 September.
Sales for the third quarter were US$280m and EBITDAR was US$36.5m million compared to 2009 figures of US$223.7m and US$39.2m respectively. Net income for 2009 Q3 was US$14.6m
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The 2009 third quarter reported results included a one-time US$12m non-cash gain relating to elimination of certain liabilities. Excluding this one-time event, 2009 EBITDAR was US$27.3m and net income was $2.6m.
“Remy sales and profits continue to show dramatic improvement over last year,” said Remy International president and CEO John Weber.
“We are well positioned as the global economy improves and demand increases,” said John Weber, Remy International, Inc. President and Chief Executive Officer.
For the full press release, please click here.
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