Shiloh Industries Q3 Profit Rises

(RTTNews) - Shiloh Industries Inc. (SHLO) Thursday reported third-quarter net income of $8.3 million or $0.49 per share, up from $5.3 million or $0.31 per share last year.

Sales for the quarter rose 30 percent to $216.4 million from $166.1 million last year.

Revenue outperformed the light vehicle market growth rate in North America and Europe of 9.5 percent and 5.0 percent, respectively, over the third quarter of 2013.

Gross margin improved to 10.2 percent from 9.9 percent last year.

Shares of SHLO are currently trading at $18.40, up $1.81 or 10.93%, on the Nasdaq.