TORONTO - Linamar Corp., a Canadian parts maker, reported higher quarterly profits and revenues on Wednesday, crediting the gain partly to more program launches and strong sales in its light vehicle and heavy truck segment.
Linamar said it had earnings from continuing operations of C$23.6 million ($17.9 million), or 33 Canadian cents a share, for the second quarter ended June 30. That compares with C$15.98 million, or 23 Canadian cents a share, in the year-before period.
Analysts had forecast, on average, profit of 29.6 Canadian cents, according to Reuters Estimates.
Linamar, which makes precision components for engines, transmissions and chassis, said revenues rose 25.2 percent to C$467.1 million in the quarter from C$373 million.
The company also cited consolidation of 2003 acquisitions and higher sales from its industrial products group for the increase in revenues.