Auto and truck parts supplier Commercial Vehicle Group said its first-quarter profit fell by 78% to $3 million or 14 cents a share, from $13.4 million or 62 cents last year.
Revenue fell to $198.8 million from $229.3 million last year, the company said late last week.
The results “were impacted by the anticipated slow down in the North American Class 8 heavy truck market,” said Mervin Dunn, CVG’s chief executive officer.
CVG also lowered its earnings forecast to 85 cents to $1.35 per share for the full year, from earlier guidance of $1.25 to $1.75 per share.
CVG makes seats, interior systems and other cab-related products for the commercial vehicle market. It is providing seats to Freightliner Trucks for its 2007 truck cab production.