Financial Overview
|
(in million dollars) |
| |
FY2011 |
FY2010 |
Rate of change
(%) |
Factors |
| Net Sales |
822.2 |
719.5 |
14.3 |
1) |
| Income from operations |
39.8 |
59.8 |
(33.4) |
- |
Factors
1)
-Net sales in 2011 increased 102.7 million dollars, or 14%, to 822.2 million dollars from 719.5 million dollars in 2010. Wheel sales in 2011 increased 103.5 million dollars, or 15%, to 813.0 million dollars from 709.5 million dollars in 2010, as its wheel shipments increased by 6% compared to 2010. Changes in aluminum price, which the Company generally passes through to its customers, contributed approximately 55.4 million dollars to the sales increase and was the primary driver of the 7% increase in the average selling price of its wheels. Increases in unit shipments to Ford, BMW and Nissan were partially offset by declines in unit shipments to Chrysler.
