Commercial vehicle supplier CVG reported higher second-quarter net income and record quarterly revenue as it continued to diversify its customer base and emphasize secular growth.
For the period ended June 30, net income reached $5.1 million, or 16 cents per diluted share, compared with a net loss of $12.5 million, or a 40-cent loss, a year earlier.
Net income included a $7.2 million charge, on a pre-tax basis, for debt refinancing occurring in the quarter, according to the New Albany, Ohio-based company.
