TORONTO -- Decoma International Inc. reported a fourth-quarter loss Wednesday as the auto parts supplier absorbed costs from European writedowns.
Decoma, which makes exterior car parts, said it had a loss of $3.8 million, or 6 cents a share, for the period ended Dec. 31. That compares with a profit of $23.1 million, or 25 cents a share, a year earlier.
Analysts had forecast, on average, a profit of 19 cents a share, excluding charges, according to Thomson First Call.
Last December, Decoma said it would write down certain European assets -- $12 million in Britain and $11 million in Europe -- and consolidate some operations at three plants on the Continent.
Decoma cited continued operating losses, uncertain long-term production volumes and excess paint capacity in the market for the British writedown.
Decoma of Concord, Ontario, one of the Magna International group of companies, said sales were up 22 percent at $646 million in the quarter.
For the year, Decoma posted a profit of $72 million on sales of $2.35 billion, down from net income of $93 million on sales of $2.06 billion.
