WABCO Holdings Q2 Sales Up 29%
Cost of sales was $520m in second quarter of 2011, compared to $363m for the same period in 2010. Gross profit was $217.7m in 2011, compared to $149.3m in 2010.
Operating income was $99m for the second quarter of 2011, over $50.1m in 2010. Income before taxes was $100.5m in 2011, compared to loss before income taxes of $350.3 in 2010.
Net income was $88.6m in 2011, compared to net loss of $365.4m in 2010.
For the first half ended June 30, 2011, sales were $1.41m, compared to $1 billion in 2010. Cost of sales was $1 billion, compared to $713.9m in 2010.
Gross profit was $414m for first half of 2011, compared to $289.4m in 2010. Operating income was $187m in 2011, compared to $93.3m in 2010.
Income before income taxes was $215.7m in 2011, compared to loss before income taxes of 309m in 2010. Net income was $203.3m in 2011, compared to net loss of $334.7m in 2010.
Jacques Esculier, chairman and CEO of WABCO, said: â€œQ2 2011 marked yet another period of compelling results as we generated robust sales growth of 29 percent in local currencies while continuing to deliver a commanding level of incremental operating profit margin at 25 percent, thus continuing to break records in profitability.
â€œOur second quarter results show that WABCO continues to fire on all cylinders in a global industry that keeps fueling growth. We also continue to demonstrate our ability to outperform the market, improve productivity and deliver high incremental profitability.â€
For full year of 2011, WABCO is expecting to increase its sales from 22 to 25 percent, compared to previous year.
WABCO is a provider of electronic, mechanical and mechatronic technologies for braking, stability and transmission automation systems to the commercial truck, trailer and bus manufacturers.
Will the firmâ€™s sales increase further in Q3?
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