Commercial Vehicle Group Reports Higher 1Q Profit

Components maker Commercial Vehicle Group said its first quarter profit rose from a year ago on higher sales and stronger vehicle markets.

Net income was $3.3 million, or 12 cents a share, up from $700,000, or 3 cents, a year ago. Sales rose 25% to $182.5 million.

Operating income rose to $8.1 million, from  $3.6 million a year ago.

The results showed “the positive impact of the increase in our end markets and improved revenues, despite the heavy decline in our military end market sales from the same period last year,” said Chad Utrup, the company’s chief financial officer.