RACINE, Wis. – Modine has reported that second quarter sales from continuing operations increased 1 percent to $433.3 million from $428.7 million reported in the second quarter of fiscal 2008. Excluding the impact of foreign currency exchange rate changes, underlying sales decreased by $8.5 million, or 2 percent, with the largest sales decreases in the Original Equipment – Europe and Asia segments.

Second quarter gross profit was $54.9 million, or 12.7 percent of sales, compared to gross profit of $61.9 million, or 14.4 percent of sales, in the same period last year. The company said second quarter gross margin reflects the impact of lower fixed cost absorption with the declining sales volumes in the Original Equipment – Europe and Asia segments, the impact of changing product mix toward lower margin programs in the Original Equipment – Europe segment and operating inefficiencies in the Original Equipment – North America segment.