Global automotive supplier Magna International has reported 16% increase in sales to $8.96bn during the second quarter that ended 30 June 2013, compared to the corresponding period of 2012.
During the second quarter of 2013, the supplier recorded a net income of $415m and diluted earnings per share of $1.78, which grew against the $349m during the same period prior year.
The complete vehicle assembly sales during the second quarter went up by 23% to $796m, compared to $645 million for the second quarter of 2012, while complete vehicle assembly volumes increased 17% to about 39,000 units.
The company generated cash from operations of $714m before changes in non-cash operating assets and liabilities, and invested $12m in non-cash operating assets and liabilities during the period.
Total investment activities for the second quarter of 2013 were reported to be $285m, which included $232m in fixed asset additions and $53mn in investments and other assets.
According to the company, regions including North America, Europe and rest of World recorded a positive growth in production sales as well as complete vehicle assembly sales and tooling, against the same quarter in 2012.
The automotive supplier reported 13% growth to $17.32bn for the first half of 2013, against the same period last year.
