TRIMAS CORPORATION REPORTS FOURTH QUARTER AND FULL YEAR 2013 RESULTS
By Trimascorp , 2014-02-25 12:00:00
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TriMas Corporation announced on Feb. 20th, 2014 financial results for the year and quarter ended December 31, 2013. For the year, the Company reported record net sales from continuing operations of $1.395 billion, an increase of 9.6% compared to 2012. The Company reported full year income from continuing operations attributable to TriMas Corporation of $74.9 million, or $1.81 per diluted share, compared to income from continuing operations of $33.9 million, or $0.89 per diluted share, in 2012. Excluding Special Items(1), full year 2013 income from continuing operations would have been $85.1 million, or $2.06 per diluted share, as compared to $1.84 per diluted share in 2012.
The Company reported record fourth quarter net sales from continuing operations of $323.4 million, an increase of 7.4% compared to fourth quarter 2012. The Company reported fourth quarter 2013 income from continuing operations attributable to TriMas Corporation of $6.9 million, or $0.15 per diluted share, as compared to a loss of $13.9 million, or $0.35 per diluted share during fourth quarter 2012. Excluding Special Items(1), fourth quarter 2013 diluted earnings per share from continuing operations would have been $0.31, as compared to $0.33 in fourth quarter 2012, while absorbing 13.8% higher weighted average shares outstanding in fourth quarter 2013 as compared to fourth quarter 2012.
