July 25, 2012 / 10:15 PM / 5 years ago

UPDATE 1-Exco Tech profit jumps on strong demand

* Q3 EPS C$0.14 vs C$0.9 yr ago

* Q3 rev up 21 pct

July 25 (Reuters) - Canadian auto parts maker Exco Technologies Ltd posted a profit for the third straight quarter on higher demand and strong performance across all segments.

The company's third-quarter net income rose 49 percent to C$5.5 million ($5.40 million), or 14 Canadian cents per share, from C$3.7 million, or 9 Canadian cents per share, a year earlier.

Exco, which makes die-casting and aluminum extrusion products and services for the automotive industry, said total revenue rose 21 percent to C$59.2 million.

Sales at the automotive solutions unit rose 33 percent to C$23.2 million. The unit makes items such as door pockets, restraint systems, and slide-out tables, mainly for passenger cars and light trucks.

Sales at its casting and extrusion segment were up 13 percent to C$36 million from a year earlier.

Several industry analysts have said auto parts suppliers' shares may be poised for further gains as consumers look to replace growing numbers of worn-out clunkers.

The Ontario-based company's shares , which have gained about 35 percent in the last six months, closed at C$4.86 on Wednesday on the Toronto Stock Exchange.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below