Jason Industries sales decline 8.3 percent
Jason Industries reported net sales of $175.2 million for the first quarter, an 8.3 percent decline from $190.9 million in the same quarter last year.
A net loss of $0.4 million, or 5 cents diluted loss per share, compared to a net loss of $3.0 million, or 15 cents diluted loss per share, in last year's first quarter.
Finishing net sales of $49.5 million decreased $0.8 million, or 1.6 percent, including a negative foreign currency translation impact of 2.4 percent and a negative 1.1 percent impact from the exit of a non-core market in Brazil.
Components net sales of $21.1 million decreased $5.7 million, or 21.3 percent, including a negative 13.3 percent impact from the exit of non-core product lines upon closure of the Buffalo Grove, Illinois facility.
Seating net sales of $47.4 million decreased $4.6 million, or 8.8 percent, including a negative foreign currency translation impact of 0.7 percent. Organic sales decreased 8.1 percent on lower volumes in motorcycle and turf care.
Acoustics net sales of $57.2 million decreased $4.7 million, or 7.6 percent, including a negative foreign currency translation impact of 0.5 percent.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
