Accuride Corp., headquartered in Evansville, Ind., reported net sales of $88.2 million for the first quarter ended March 31, 2003.
This compares to net sales of $77.8 million for the first quarter of 2002, an increase of 13.4%. The increase reflects the continuing recovery in the commercial vehicle market, led by the trailer industry, which experienced a first-quarter production increase of 84% over first-quarter 2002 levels.
The company's liquidity position remained strong at March 31, 2003, with $41.2 million in cash.
"All in all we are pleased with the results of the first quarter," said Terry Keating, Accuride's president and CEO. "The industry has weathered the spike in diesel fuel prices and weak demand in Class 8 trucks following the October 2002 EPA emissions change better than many had expected. In addition, light vehicle production remains robust due in part to the step-up in incentives. The result was stronger than anticipated demand."
Accuride is among North America's largest manufacturers and suppliers of wheels for heavy/medium trucks and trailers. For more information, visit Accuride's web site at www.accuridecorp.com.
This compares to net sales of $77.8 million for the first quarter of 2002, an increase of 13.4%. The increase reflects the continuing recovery in the commercial vehicle market, led by the trailer industry, which experienced a first-quarter production increase of 84% over first-quarter 2002 levels.
The company's liquidity position remained strong at March 31, 2003, with $41.2 million in cash.
"All in all we are pleased with the results of the first quarter," said Terry Keating, Accuride's president and CEO. "The industry has weathered the spike in diesel fuel prices and weak demand in Class 8 trucks following the October 2002 EPA emissions change better than many had expected. In addition, light vehicle production remains robust due in part to the step-up in incentives. The result was stronger than anticipated demand."
Accuride is among North America's largest manufacturers and suppliers of wheels for heavy/medium trucks and trailers. For more information, visit Accuride's web site at www.accuridecorp.com.
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