A car vin number is an important part of every car. The car
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This web page covers topics such as the following:
- The VIN and how it works
- How to get a free VIN check
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- How a consumer can use VIN verification to spot a lemon
- What companies offer a vin number search
- Why dealers don't like VIN numbers
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- Why vin numbers are used
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Some problems to look for in used cars:
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Spectra Premium Industries
Date: Apr 14, 2005
Contributor: Earnestine Ellard
Q4 loss at auto parts firm Spectra Premium grows to $4.15M, 2006 outlook up
Auto parts maker Spectra Premium Industries Inc. says its fourth-quarter loss widened to $4.15 million but it expects to return to profitability in 2005 after two years of restructuring - despite weakness at key customer General Motors.
The firm's shares rose more than 13 per cent on the Toronto stock market, on small trading volume, after Spectra said it sees better results coming in the second quarter of the current year.
The company has spent $18 million over two years consolidating operations and shutting down some product lines.
"Last year's financial results have been very disappointing and we're glad that it's behind us," CEO Jacques Mombleau said in a conference call.
"But this is the year that we have gained significantly in terms of structure competitiveness, sales growth potential and, finally, our overall strategic positioning."
Spectra shares gained 23 cents to $1.99 on the Toronto Stock Exchange.
The company said its loss for the three months ended Jan. 31 amounted to 13 cents per share diluted, compared with a loss of $2.6 million, or nine cents per share, in the year-earlier period. Spectra incurred restructuring costs of $2.36 million in the quarter.
In September, Spectra closed its of aluminum radiator plant in Stratford, Ont., cutting 90 jobs and consolidating some of the its product at the company's facility in suburban Laval, Que. Mombleau said he expects Spectra's cost-reduction program and leaner corporate structure will save the company $2 million in the year ahead.
"We expect a return to profitability in the second quarter of this new fiscal year as we should start posting better results that the previous year," Mombleau said.
Drags on Spectra's bottom line in 2006 could be a strong Canadian dollar and lower original equipment manufacturer segment sales due to a short-term by a slowdown in production at some General Motors plants with surplus inventories.
Spectra's purchase of a 90 per cent interest in die-cast magnesium alloy parts maker Trimag LP in 2004 will "substantially increase our sales volume in the OEM segment," Spectra said, adding it plans to decrease its reliance on GM in the sector by seeking other contracts.
The company reported sales for the fourth quarter rose to $66.25 million from $47.65 million in the same three months a year earlier.
The company's loss for the full year was $1.37 million, or five cents per share diluted, compared with a profit of $2.25 million, six cents per share, in 2003. A total of $6.12 million was spent on restructuring during the year.
Annual sales were $253.9 million, up from $229.9 million in 2003.
Spectra makes aftermarket truck parts and high-pressure die-cast magnesium alloy parts and steel fuel tanks.
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