Automotive electrical and drivetrain/powertrain products maker Delco Remy International reported net sales of $US272.1 million and operating income of $26.6 million for the second quarter of 2003. Compared to the second quarter of 2002, this represents a sales increase of $2.2 million, or 0.8% and operating income improvement of $5.1 million, or 23.7%.
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For the first half of 2003, net sales of $528.7 million increased $10.0 million, or 1.9%, over the comparable period of 2002.
For the first half of 2003, an operating loss of $1.5 million includes a $44.6 million restructuring charge, compared with operating income of $46.0 million in 2002, which included a $4.4 million post-employment benefit curtailment gain.
