Accuride Reports 46.7 per cent Net Sales Increase

Accuride Corporation has reported net sales of $138.5 million of for the fourth quarter of 2004, ended 31 December 2004. This equates to a 46.7 per cent increase compared to the $94.4 million that it raised in the fourth quarter of 2003. According to the company the increase is primarily the result of the “continuing cyclical recovery of the commercial vehicle industry. Accuride had net income of $5.2 million for the fourth quarter of 2004, compared to $0.6 million at the same time in 2003.

At the same time the company recouped some of its 2003 losses, posting an annual net income of $21.8 million, compared to the company’s $8.7 million net loss of 2003. Full year net sales were $494 million compared with $364.3 million in 2003, an increase of 35.6 per cent.