NOVI, Mich.—Cooper Standard Holdings Inc. report declines in revenue and gross profits for the first quarter compared to the previous year.
The company, parent company of automotive components maker Cooper Standard Automotive said its revenue fell 2.3 percent to $747.6 million for the first quarter of 2013 because of lower vehicle production in Europe.
Gross profit for the quarter was $120.3 million or 16.1 percent of sales, compared to $121.7 million or 15.9 percent of sales for the first quarter of 2012. The company's net income for the quarter fell to $20.7 million.