Climate controlled seat specialist Amerigon Incorporated increased net income in the second quarter to $295,000 compared with a net loss of $609,000 in the prior year period.
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Gross margin as a percentage of revenue for the second quarter rose to 25.9% from 24.8%, reflecting improved product mix and cost reduction.
Amerigon said many automotive manufacturers experienced softness in vehicle sales during the second quarter, including sales of large vehicles such as SUVs, due in part to increasingly high fuel prices in the US and higher interest rates.
“This had an impact on the sales of several vehicles offering CCS, and we expect this softness in the automotive market to continue for the balance of this year, particularly in the third quarter,” a spokesman said.
For the first six months of 2004, revenues increased 62% to $17.6 million, up from $10.9 million for the year-earlier period. Net income in this year’s first six months improved to $596,000 compared with a net loss of $1.5 million a year ago.
