CONCORD, Ontario (Feb. 20)—Decoma International Inc. reported net income of $93 million for 2002, up 35 percent from net income of $68.7 million in 2001. Sales for the year increased 13 percent to $2.1 billion. Decoma's operating income was $173.7 million compared to $141.3 million in 2001. For the fourth quarter, the exterior trim and sealing supplier reported net income of $23.1 million vs. $19.8 million during the last three months of the previous year. Revenue during the three-month period increased to $528.2 million compared to $466.4 million in the fourth quarter of 2001. In addition to increased vehicle production, Decoma's sales growth in North America was driven by the full-year contribution from its lighting supplier Autosystems Manufacturing Inc. acquisition, new launches on the Ford Explorer and Nissan Altima, as well as take-over business on the Cadillac Escalade and Denali sport-utility vehicles.
Decoma's net earnings, sales up in 2002
Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].