Novi, Michigan – Cooper-Standard Holdings Inc., the parent company of Cooper Tire and manufacturer of rubber automotive parts, has posted “record results”, with a 161-percent rise in net income for full year 2015.
“Net income totalled $111.9 million, up 161.5 compared to 2015,” the company said in a 22 Feb press release.
Earnings (adjusted EBITDA) totalled $362.4 million, with a 16.3 percent rise year-on-year.
During the fourth quarter 2015, the company generated net income of $21.7 million, and adjusted EBITDA of $91.3 million on sales of $854.4 million.
These results compare to a net loss of $12.8 million and adjusted EBITDA of $72.2 million on sales of $767.9 million in the fourth quarter of 2014.
“This marks the fifth consecutive quarter in which we were able to deliver year-over-year margin improvement,” stated Jeffrey Edwards, chairman and CEO of Cooper Standard.