Cooper-Standard Q4 Net Loss Reduces - Quick Facts

(RTTNews) - Cooper-Standard Holdings Inc. (CPS), the parent company of Cooper-Standard Automotive Inc., reported a narrower net loss of $12.8 million in the fourth quarter of 2014, compared with a $20.8 million loss, last year.

The company reported revenue of $767.9 million for the fourth quarter of 2014, versus $794.2 million in the previous year. The decline was driven mainly by unfavorable foreign exchange of $31.5 million.

Quarterly operating profit was $7.1 million, as compared with $14.6 million in the same quarter in 2013. Favorable gross profit and lower restructuring charges of $8.2 million were more than offset by noncash impairment charges of $26.3 million and pension settlement charges of $3.6 million, the company said.