- Reported record second quarter net sales of $378.0 million, an increase of 11.7% as compared to second quarter 2012, due to results from bolt-on acquisitions and the successful execution of numerous growth initiatives.
- Improved income from continuing operations attributable to TriMas Corporation (1) by 19.7%, excluding the impact of Special Items, compared to second quarter 2012. Improved diluted earnings per share (1), while absorbing costs related to several acquisitions and approximately 6% higher weighted average shares outstanding for second quarter 2013, as compared to second quarter 2012.
- Completed five bolt-on acquisitions for approximately $47 million, net of cash acquired, or approximately one-times revenue acquired, through second quarter year to date to expand and globalize existing product offerings, gain access to new customers and end markets, expand the geographic footprint internationally, further enhance management capacity, and capitalize on scale and cost efficiencies.
- Reduced interest expense by more than 45% as compared with second quarter 2012.
- Continued to invest in a flexible manufacturing footprint to optimize manufacturing costs long-term, add necessary capacity, enhance customer service and support future growth.
- Today announced the acquisition of substantially all of the assets of a towbar manufacturer located in Germany and Finland. These assets, combined with the April 2013 acquisition of C.P. Witter Limited, a leading manufacturer of highly-engineered towbars and cargo management products located in the United Kingdom, position Cequent to capitalize on growth opportunities in new markets through product and geographic expansion.
TriMas Corporation Reports Record Second Quarter Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.