NOVI, Mich. -- Cooper-Standard Holdings Inc., parent company of Cooper Standard Automotive Inc., has reported strong financial performance for the third quarter of 2010.

Cooper Standard reported sales for the third quarter of $585.7 million, an increase of 13.1 percent over the third quarter of 2009. The company's sales for the first three quarters of 2010 were $1.8 billion, an increase of $442.7 million, or 32.4 percent, from the same period in 2009. The increase was primarily due to an improvement in automotive production volumes in most regions of the world, the company said.

Gross profit in the third quarter was $102.1 million or 17.4 percent of sales. Gross profit for the first three quarters of 2010 was $312.8 million, or 17.3 percent of sales, compared to $175.2 million, or 12.8 percent of sales, for the first three quarters of 2009.

The company posted net income for the third quarter of $20.8 million compared to $10.8 million in the previous year. The company said this improvement was due to the increase in automotive production volumes and its improved cost structure.
 
"Cooper Standard continues to exhibit strong financial performance in 2010 as a result of improving production volumes and our streamlined cost structure," said Jim McElya, chairman and CEO. "We are pleased with our third quarter results and continue to evaluate economic and industry trends so we can capitalize on opportunities and navigate any headwinds."