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RV, van-conversion and manufactured-housing industry supplier Creation Group, which DURA Automotive Systems Inc. acquired in July, contributed the vast majority of the sales revenue increase DURA experienced during the first three months of this year.
DURA, which also owns RV industry supplier Atwood Mobile Products, reported first-quarter sales of $634.6 million, of which $33.9 million was contributed by Creation, the Nasdaq Stock Market-listed DURA reported.
Thanks largely to Creation’s contribution, DURA was able to report on Thursday (April 22) that its total sales were up 7% in the first quarter, compared with the $592.8 million in sales it had in the first three months of 2003.
Without Creation’s sales contribution, DURA’s first-quarter sales would have been up only 1%, with favorable foreign currency exchanges accounting for that gain, the parent company reported.
DURA’s first-quarter net income was flat at $9.2 million, the same amount it earned a year earlier.
DURA paid $57 million this past summer for Elkhart, Ind.-based Creation, a supplier of windows, doors and other specialty products.
On an annual basis, Creation has around $150 million in sales, Atwood has around $200 million and DURA, primarily an auto industry supplier, has around $2.5 billion, according to the company.