Accuride net sales surge in third quarter

Accuride Corp announced net sales of $93.0 million for the third quarter ended Sept 30, 2002. This compares with net sales of $77.7 million for the third quarter of 2001, an 19.6% rise. For the nine months ended Sept 30, 2002, net sales were $265.4 million compared with net sales of $260.7 million for the same nine-month period in 2001 — a 1.8% increase.

Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $19.5 million for third-quarter 2002 is up $9.5 million or 95% from $10.0 million for third-quarter 2001. The resulting adjusted EBITDA margin has increased to 20.9% of net sales from 12.9% of net sales in 2001's third quarter. For the first nine months of 2002, adjusted EBITDA rose by $19.9 million, or 61.6%, to reach $52.1 million.

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