CLEVELAND, OH — Park-Ohio Holdings Corp. (NASDAQ: PKOH) recently announced its financial results for the third quarter of 2014.
Net sales were a quarterly record $344.6 million for the third quarter of 2014, an increase of $41.1 million, or 13.5 percent, from net sales of $303.5 million for the third quarter of 2013.
ParkOhio reported net income attributable to ParkOhio common shareholders of $12.4 million, or $1.00 per diluted share, for the third quarter of 2014. This compared to net income attributable to ParkOhio common shareholders of $12.2 million, or $0.99 per diluted share, for the third quarter of 2013, which included the impact of the net gain of $3.7 million, or $0.30 per diluted share, from discontinued operations, net of taxes, for the sale of a non-core business unit in the Supply Technologies segment.
In addition, EBITDA, as defined was a quarterly record $35.8 million during the third quarter of 2014 and increased 21.8 percent compared to EBITDA, as defined of $29.4 million during the third quarter of 2013.
Net sales were $1.005.7 billion for the first nine months of 2014, an increase of 12.5 percent from the first nine months of 2013.
In addition, EBITDA, as defined was $96.6 million during the first nine months of 2014 and increased 8.8 percent compared to EBITDA, as defined of $88.8 million during the first nine months of 2013.
