Linamar profits rise 14 percent in Q4

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March 7, 2013 - 3:25 pm ET

TORONTO (Reuters) -- Linamar Corp., Canada's second-biggest auto parts maker, reported a 14 percent rise in fourth quarter earnings on Wednesday, helped by higher demand in the United States and Asia, although results were tempered by softer demand in Europe.

Net earnings for the fourth quarter rose to C$30.7 million ($29.8 million U.S.), or 47 Canadian cents a share, up from C$27 million, or 42 Canadian cents a share, during the same period a year ago.

Revenue rose 5.4 percent to a record C$756.5 million, the company said.

"Earnings growth continues to outpace sales growth by a significant factor, our balance sheet continues to strengthen positioning us well for continued growth and investment," CEO Linda Hasenfratz said in a statement.

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