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Cooper Standard Posts First-Quarter Sales Record
Cooper-Standard Holdings Inc. reports its sales climbed 8% to a record $863 million in January-March.
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Cooper-Standard Holdings Inc. reports its sales climbed 8% to a record $863 million in January-March. Operating profit nearly doubled to $62 million. Net income surged 46% to $31 million.
The Novi, Mich.-based supplier of automotive sealing, fluid delivery and anti-vibration products says first-quarter sales in North America rose 8% to $450 million. Revenue advanced 1% to $269 million in Europe and 48% to $127 million in Asia Pacific. Sales fell 46% to $16 million in South America.
Cooper Standard anticipates further improvements in growth, profits and cash flow this year. The company reiterates its guidance of full-year revenue of about $3.4 billion compared with a record $3.3 billion in 2015.
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