TROY, Mich. (Nov. 14)—Collins & Aikman Corp. reported a net loss of $32.1 million for the third quarter vs. a loss of $45.2 million during the same three-month period last year. Net sales during the quarter were down 2 percent at $902.2 million. Revenue during the first nine months of this year, however, increased to $2.97 billion from $2.92 billion in 2002. For the first three quarters of 2003 the automotive interior parts supplier and mat maker posted a loss of $47.6 million, compared to a loss of $50.4 million during the same period of 2002. Collins & Aikman attributed its slight sales decline in the third quarter primarily to reduced North American vehicle production volumes and to after-tax charges for restructuring and long-lived asset impairment of $16 million.
Restructuring charges leave Collins & Aikman's third-quarter sales down
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].