CLEVELAND—ParkOhio's sales and net income for 2014 both increased compared to 2013.
The firm reported what it says was a company record of about $1.38 billion for 2014, a 15 percent increase compared to 2013. Net income also increased to $45.6 million, up $2.1 million from 2013.
ParkOhio experienced a 21 percent increase in sales to $373 million, up $63.6 million compared to 2013. Net income also increased to $10.7 million for the quarter compared to $8.9 million during the same period in 2013.
The company projects revenues to increase about 14 percent in 2015.
Headquartered in Cleveland, ParkOhio is a provider of supply management services and manufacturers highly-engineered products with 45 manufacturing sites and 55 supply chain logistics facilities.