Auto Parts Maker Linamar Nearly Doubles Third Quarter Profit - aftermarketNews

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Auto Parts Maker Linamar Nearly Doubles Third Quarter Profit

Linamar Corp. reported a near doubling of profits in the third quarter Wednesday as the auto parts maker enjoyed a large jump in revenues from North American parts components sales. The Guelph, Ontario-based company said Wednesday it earned $24.9 million or 28 cents a share for the three months ended Sept. 30. That compared with a profit of $12.7 million or 21 cents a share last year. Revenues soared to $478.7 million from $366.8 million.

aftermarketNews Staff
By aftermarketNews Staff

From Canadian Press

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GUELPH, Ontario — Linamar Corp. reported a near doubling of profits in the third quarter Wednesday as the auto parts maker enjoyed a large jump in revenues from North American parts components sales.

The Guelph, Ontario-based company said Wednesday it earned $24.9 million or 28 cents a share for the three months ended Sept. 30. That compared with a profit of $12.7 million or 21 cents a share last year. Revenues soared to $478.7 million from $366.8 million.

The company said third quarter results were helped by strong growth in North American automotive sales to assemblers of light vehicles and medium and heavy trucks.

Linamar also said its Skyjack Inc. industrial lift subsidiary also performed well.

Copyright 2004 Canadian Press. All Rights Reserved.

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