Accuride Corp., a manufacturer and supplier of commercial vehicle components, reported a net loss in its first quarter of $2.2 million, down from the $31.1 million it lost in the first quarter of 2009.
Accuride, Evansville, Ind., said Wednesday that revenue rose to $169 million in its first quarter, up from the $143.6 million in the same quarter last year.
Accuride, which emerged from bankruptcy proceedings Feb. 26, gave its earnings per share for the quarter in two segments: $1.04 from Jan. 1 to Feb. 26, and a loss of 42 cents from Feb. 26 to March 31. In the first quarter of 2009, it lost 86 cents per share.
“The increase in sales was primarily the result of the increase in demand in the commercial vehicle industry,” Accuride said in a statement.
“During [the] first quarter of 2010, production across all three major segments Accuride supplies increased from the same period in 2009. Class 8 production rose approximately 23% year-over-year and Class 5-7 and U.S. Trailer [division] rose 16% and 18.5%, respectively,” it said.