Gentherm Incorporated Presents at 8th Annual Barrington Research Fall Conference 2015, Sep-02-2015
Aug 20 15
Gentherm Incorporated Presents at 8th Annual Barrington Research Fall Conference 2015, Sep-02-2015 . Venue: Four Seasons Hotel Chicago, 900 North Michigan Shops, 120 E Delaware Place, Chicago, IL 60611, United States.
Katzkin and Gentherm Announce Exclusive Agreement
Aug 11 15
Katzkin and Gentherm announced exclusive agreement to optimize seat comfort for the aftermarket industry. The two companies will be pioneering new comfort opportunities for consumers through Katzkin aftermarket channels. The agreement includes the recent development and current distribution of the 'Degreez' seat heating and cooling system - a one-button technological application that delivers a thermal comfort feature for cars, trucks and SUVs. Katzkin is the official and exclusive distributor for Gentherm's individual heating and cooling systems within the aftermarket channel, and its more than 2,500 installation 'restylers' throughout the U.S. will have the ability to include Gentherm's CCS technology.
Gentherm Incorporated Presents at J.P. Morgan Auto Conference, Aug-12-2015 10:00 AM
Jul 30 15
Gentherm Incorporated Presents at J.P. Morgan Auto Conference, Aug-12-2015 10:00 AM. Venue: J.P. Morgan, 383 Madison Avenue, New York City, New York, United States. Speakers: Daniel R. Coker, Chief Executive Officer, President and Director.
Gentherm Incorporated Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Revenues Guidance for the Year 2015
Jul 29 15
Gentherm Incorporated announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2015. For the 2015 second quarter, revenues were $213.4 million compared with $206.2 million in the prior year period. The revenue increase for the quarter was driven by continued strong shipments of the Company’s Climate Control Seat (CCS™) systems and a year-over-year increase of 54% in revenue to $12.5 million for GPT, which was acquired at the beginning of the second quarter of 2014 on April 1, 2014. Net income for the 2015 second quarter was up 19% year over year to $19.5 million or $0.54 per basic share and $0.53 per diluted share. Net income for the second quarter of 2014 was $16.4 million, or $0.46 per basic and diluted share. Operating income was $26,670,000 compared to $24,514,000 a year ago. Earnings before income tax were $26,228,000 compared to $22,925,000 a year ago. Adjusted EBITDA was $33,893,000 compared to $32,307,000 a year ago.
For the first six months of 2015, revenues increased to $420.4 million from $400.1 million in the first six months of 2014. Net income for the first six months of 2015 was up 19% year over year to $39.3 million, or $1.10 per basic share and $1.08 per diluted share. Net income for the first six months of 2014 was $33.0 million, or $0.94 per basic share and $0.92 per diluted share, which included $1.1 million in fees and expenses associated with the acquisition of Global Thermoelectric Inc. Adjusted EBITDA for the first half of 2015 was $68.0 million compared with Adjusted EBITDA of $64.8 million for the comparable period of the prior year. Operating income was $53,747,000 compared to $49,552,000 a year ago. Earnings before income tax were $52,407,000 compared to $45,806,000 a year ago. Net cash provided by operating activities were $39,772,000 compared to $24,366,000 a year ago. Purchases of property and equipment were $23,029,000 compared to $15,489,000 a year ago. Cash totaling $101.6 million at the end of the quarter increased by $16 million from the beginning of the year, and total debt is now $85.6 million, which decreased by $5.2 million. This decrease of cash balance, along with cash use for capital expenditures totaling $23 million for the six months, was more than offset by $39.8 million in positive operating cash flow.
As a result, the Company now believes that 2015 revenue will be just below the low-end of the previous range of a 10% to 15% increase over 2014 revenue, which was $811 million.
Gentherm Incorporated to Report Q2, 2015 Results on Jul 29, 2015
Jul 22 15
Gentherm Incorporated announced that they will report Q2, 2015 results at 4:05 PM, US Eastern Standard Time on Jul 29, 2015