Core Molding Technologies: Surges after profit vs year-ago loss

Core Molding Technologies

11/05/2020 16:38

** Reinforced plastics manufacturer's shares  CMT.A  jump
34.2% to $3.65 in morning trading 
    ** CMT posts $8 mln net profit in Q1 compared with a net
loss a year ago  urn:newsml:reuters.com:*:nPn2YyVvTa
    ** Company cites improved operational performance, reduction
in selling and general administrative expenses 
    ** Co expects heavy and medium duty truck sales level to
decline in 2020 
    ** Says it has begun to increase production from May 4 with
customers coming back online as supply chains stabilize 
    ** Shares have risen ~11% so far this year 

 (Reporting by Shivani Kumaresan in Bengaluru)