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Shiloh Industries’ Quarterly Revenue Surges 27%
Lightweighting expert Shiloh Industries Inc. reports its revenue in the fiscal third quarter ended July 31 jumped to $275 million from $216 million a year earlier.
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Lightweighting expert Shiloh Industries Inc. reports its revenue in the fiscal third quarter ended July 31 jumped to $275 million from $216 million a year earlier.
Gross profit for the Ohio-based supplier fell 9% to $2 million. Earnings before interest, taxes, depreciation and amortization was $16 million compared with $17 million in the same period of 2014. But reduced scrap metal pricing and a sharp jump in taxes cut net income to $2 million from $8 million.
Shiloh notes it launched or gained production approval for 146 new programs in May-July, up from 61 a year earlier. Roughly half the revenue gain will come from new business with European premium carmakers, according to the company.
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