Climate controlled seat specialist Amerigon Incorporated has reported its seventh consecutive profitable quarter with a 54% year-over-year increase in net income and higher gross margins for both its second quarter and six months ended June 30, 2005.

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These results were positively affected by global diversification, continued adoption by automotive manufacturers and consumers of the company’s proprietary Climate Control Seat system, especially in sedans and mid-sized luxury vehicles, improved purchasing and manufacturing efficiencies and controlled operating expenses, it said in a statement.


Revenues the second quarter and first six months of 2005 were $US8.6 million and $17.5 million, respectively, flat compared with revenues of $8.6 million and $17.6 million a year ago.


“While revenues remained flat year-over-year, strong sales of CCS to Asian vehicle manufacturers… continued to offset lower sales to North American manufacturers,” Amerigon said.


Net income for both the second quarter and first half improved 54% to $454,000, or $0.02 per share, and $916,000 ($0.04), compared with $295,000 ($0.02) and $596,000 ($0.03) for the comparable periods last year.

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Gross margins as a percentage of revenue improved to 28.7% (Q2) and 28.1% (H1) from 25.9% and 24.6% in 2004.


President & CEO Daniel Coker said: “We continue to show solid bottom line performance in a tough marketplace, particularly in North America, thanks to our focus on productivity and cost controls.


“At the same time, we have extended our customer base from the SUV lines, where we started and which are bearing the brunt of the industry’s decline, to sedans and mid-sized luxury vehicles that are less affected by fuel prices, as well as to Asian customers not as affected by the industry’s problems.”