Bloomfield Hill, Mich.-based TriMas Corp. reported a slight increase in second-quarter revenues despite “essentially flat” sales from its recreational vehicle and trailer business units.
The highly diversified company is parent to Cequent Transportation Accessories Group, Plymouth, Mich., which supplies towing products to the RV and other sectors under brand names that include Draw-Tite, Reese, Fulton, Wesbar, Bull Dog, Hidden Hitch and Tekonsha.
During the quarter, ended June 30, sales increased to $279.6 million from $269.6 million a year ago. Net income, impacted by a $4 million net loss from discontinued operations, declined to $2.9 million compared with $4.9 million the year prior.
“While sales within recreational accessories declined and were essentially flat within RV and trailer products compared to the year ago period, our profitability continued to improve as a result of sourcing and other cost reduction initiatives implemented in the second half of 2005,” said Grant Beard, TriMas president and CEO. “While the economic outlook for the majority of our companies remains positive, we are watching end market demand within our recreational accessories and RV and trailer products businesses closely, given fuel prices and the current interest rate environment.”