TORONTO -- Wescast Industries reported a narrower third-quarter loss on Wednesday as the maker of exhaust manifolds for cars and trucks took advantage of increased production in the North American auto industry.
The company said it lost Canadian $3.2 million, $2.5 million at current exchange rates, or 24 Canadian cents a share during the latest period, compared with a loss of Canadian $17.6 million, or Canadian $1.35 a share, in the same period last year.
The quarter last year included a Canadian $21.7 million charge related to discontinued operations.
Revenue fell 2 percent to Canadian $86.9 million from Canadian $88.7 million, due mainly to lower production levels at General Motors, Ford Motor Co. and DaimlerChrysler, its primary customer base.
Despite lower production at the Big 3, Wescast said a 1.8 percent increase in production levels in the overall North American automotive industry helped offset some of the pressure.