Modine reports Q3 net income of USD18 million on higher sales
Company expects full FY2018/19 sales to grow in range of 3% to 7%
Modine Manufacturing has reported net income of USD18 million in the third quarter ended 31 December 2018 compared to net loss of USD28.3 million a year earlier, the US-based thermal solution provider said in a press release on 31 January. Net sales increased 6% year-over-year (y/y) to USD541 million. Adjusted for foreign exchange movements, Modine’s sales increased 8% y/y. Higher sales helped the company to more than double its operating income to USD33.6 million.
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