PLYMOUTH, Mich. (Oct. 12)—Simpson Industries Inc. reported third quarter earnings of $1.2 million on sales of $116.5 million for the quarter ended Sept. 20. That compares to earnings of $2.85 million on sales of $124 million during the thrid uquarter of 1999. For the nine month-period, Simpson posted net earnings of $13.7 million on sales of $399.6 million, compared to net income of $15.5 million on revenue of $396.7 in 1999. The supplier acquired Sept. 29 by Heartland Industrial Partners, also posted lower operating income of $3.5 million for the third quarter compared to $6.1 billion last year during the same period, and $27.6 million for the nine-month period versus $30 million last year. Weaker automtoive and heavy-duty volumes combined with currency losses affect sales adversely, Simpson said. Through September, Simpson booked new business totalling $80 million, Simpson Chairman and CEO Roy E. Parrott said.
Simpson Industries third-quarter sales, earnings down
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