CVG’s First-Quarter Income Declines

Parts maker Commercial Vehicle Group said it earned $500,000, or 2 cents a share, in the first quarter, compared with $3 million, or 14 cents, a year ago.

Revenue for the quarter dipped to $197 million, from $198.8 million last year, the company said late Wednesday.

“Our first quarter 2008 operating results were better than our expectations due to a slightly higher truck build rate as well as strength in our construction, military and specialty markets,” said Chief Executive Officer Mervin Dunn.

“While we remain cautious about the rebound of the North American Class 8 market this year, our focus on the development of other key markets is proving positive for us and will remain an integral part of our strategy as we continue forward,” he said in a statement.