WABCO Holidings sales up in third quarter

Supplier to the commercial vehicle industry has reported sales of $545.2m.

WABCO Holdings, a tier-one supplier to the commercial vehicle industry, has reported sales of $545.2m for the third quarter ended 30 September 2010, compared to $382m for the same period in 2009.

For the third quarter of 2010, WABCO posted a net income of $44m, or $0.66 per diluted share, compared to $33.8m, or $0.52 per diluted share, for the same period in 2009.

WABCO's gross profit was $148.2m, compared to $86.8m for the same period in 2009.

For the nine months ended 30 September 2010, sales were $1.54bn, compared with $1.03bn for the same period in 2009.

For the nine months of 2010, WABCO's net loss was $290.7m, or $4.52 per diluted share, compared to $19.9m, or $0.31 per diluted share, for the same period in 2009.

Gross profit was $437.6m, compared to $212.5m for the same period in 2009.

WABCO chairman and CEO Jacques Esculier said, this quarter is the second in a row for growth in truck and bus production year on year in every region of the world, marking another uptick in the recovery of the commercial vehicle industry.

"Each region experienced double digit growth, including more than 60 per cent in Europe and South America," Esculier said.