Originally published at www.seclive.com
Cooper-Standard Holdings Inc. (NYSE:CPS) announced its fourth quarter and full fiscal year 2013 financial results, posting an increase in revenue but a decline in earnings. The company, which is the parent company of Cooper Standard Automotive, reported quarterly revenue of $794.2M, an increase from the $697.1M reported a year-ago, while annual revenues inched upward from $2.9B to $3.1B. Due in large part to tax impacts, the company sustained a net loss of $20.8M in fourth quarter as compared to the $9.9M net loss last year. On an annual basis, the company posted profits of $47.9M and $2.24 per share, down from the $102.8M and $4.14 per share recorded in fiscal year 2012. Chairman and CEO Jeffrey Edwards commented that the company is focused on improving shareholder value and is please with its sales increase for the year.
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