An increase of 6.6% over results from a year ago
GUELPH, Ont. — Linamar Corp. has reported an increase in quarterly profits as sales gained 6.6% compared with a year ago.
The auto parts maker said it earned $33.7 million or 52 cents per share for the quarter ended Sept. 30, up from $21.5 million or 33 cents per share a year ago.
Sales improved to $773.4 million, up from $725.6 million.
Linamar said sales for its powertrain-driveline business increased to $671.4 million for the quarter compared with $636.3 million, while its industrial business increased sales to $102 million from $89.3 million.
“Our substantial launch book is driving great growth in the near term, and our competitive strength and an opportunistic market is helping us build for long term sustainable growth at Linamar,” said Linamar chief executive Linda Hasenfratz.
Linamar manufactures modules and systems for engines, transmissions and driveline systems in cars and trucks. The company also makes components for other industrial customers, including the wind energy industry.
© 2012 The Canadian Press