The company posted a pretax loss of
Revenue growth was driven by a rebound in sales to a European brake manufacturer who had weathered supply chain problems in 2013 and a repeat of licence income to a US clutch manufacturer, although this was offset somewhat by reduced sales of its retrofit road car product.
Gross margin narrowed, hit by the company's sales mix, as higher margin road car sales were substituted with lower margin pre-form sales. The company is seeking to move beyond the retrofit market to winning large contracts with original equipment manufacturers.
Most Popular Stories
- Doctor Who Christmas Episode Begins Production
- HCL America Adding 1,200 IT Jobs
- Medical Mfg. Jobs Coming to Dayton
- Michael Jackson, Freddie Mercury on Previously Unreleased Queen Cut
- Longtime Unemployed to Get Help in Las Vegas
- SpaceX Aims for Predawn Launch on Saturday
- Women Key to Democratic Party: Clinton
- U.S. Chamber Caught Up in Tax Inversion Question
- Feds Won't Say How Many Border Crossers Jailed
- Christie Didn't Order Bridge Shut Down, Feds Say