PENDLETON, Ind. -- Remy International has announced its operating results for the second quarter ended June 30. Sales for the quarter were $297.7 million compared to $290 million a year earlier, a 3 percent increase. Earnings before interest, taxes, depreciation, amortization and restructuring charges (EBITDAR) for the quarter increased 123 percent to $27 million from $12.1 million in the second quarter of 2007.

Gross profit, less SG&A, increased 221 percent to $21.5 million in the second quarter of 2008 from $6.7 million in second quarter of 2007. The net profit in the quarter was $2.9 million, a substantial improvement over 2007's second quarter's net loss of $29.2 million.

"Our second quarter results reflect the benefits of sales mix, continued cost control and savings resulting from our global savings program initiatives. These results were achieved in spite of dramatic vehicle production declines in the U.S. market, which we were able to offset with stronger hybrid and heavy duty market sales," said Remy International President and CEO John Weber. "While we are pleased with EBITDAR growth and profit improvement in operations, we face challenging market conditions and earnings pressure for the rest of 2008 due to continued high raw material costs, unfavorable currency rates and the downturn in North American automotive sales."

For more information about Remy, visit: www.remyinc.com.