Dura Automotive Systems Inc., parent of RV industry supplier Atwood Mobile Products, reports its first quarter earnings increased 22% to $11.2 million.
The Nasdaq Stock Market-listed company’s earnings increased despite the fact its sales revenue declined 7% during the three months ended March 31 to $616.2 million.
Dura’s sales revenue declined because it sold its Plastic Products Business, which included Mishawaka, Ind.-based Nyloncraft. Weakness in the European auto industry and unfavorable foreign exchange also contributed to the decline in revenue.
However, Dura President and CEO Karl Storrie said he is very pleased with the first quarter results.