Commercial Vehicle’s 3Q loss deepens

Debt restructuring costs combined with a drop in sales exceeding 40 percent drove a third-quarter loss of nearly $16 million at Commercial Vehicle Group Inc.. The New Albany-based truck parts maker said it lost $15.9 million, or 73 cents a share, last quarter. That compares with a loss of $2.6 million, or 12 cents a share, in the same period last year. This year’s loss includes $1.2 million in non-cash charges tied to foreign exchange contracts and $3.4 million in fees and expenses related to the exchange of $52 million in senior notes with bondholders for $42 million in new notes. Third-quarter revenue fell 43 percent to $110.8 million from $192.9 million on a global slowdown in demand. Despite the deeper loss and falling top line, CEO Mervin Dunn said in a release that the company has seen “positive trends” in key markets and continues to trim expenses, which has helped operating profit this year. Cost-cutting measures this year have included plant closings and job cuts. CFO Chad Utrup said in a release the company had no borrowings under a revolving credit line as of Sept. 30, adding that executives are “very optimistic about our potential going forward.” Commercial Vehicle isn’t, however, offering earnings or revenue projections for the rest of the year. The company in the first three quarters lost $57.8 million, or $2.66 a share, compared with profit of $952,000, or 4 cents a share, in the first nine months of 2008. Revenue year-to-date has fallen 46 percent to $322.8 million from $599.1 million. Commercial Vehicle (NASDAQ:CVGI), which employs about 5,900, lost $206.8 million on $763.5 million in revenue last year. ...
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COMMERCIAL VEHICLE GROUP, INC. Files SEC form 8-K, Results of Operations and Financial Condition

Show all filings for COMMERCIAL VEHICLE GROUP, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for COMMERCIAL VEHICLE GROUP, INC. 29-Oct-2009Results of Operations and Financial Condition Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" f...
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Ghouls, Bulls, and Internet Trolls

David Goodboy is Vice President of Business Development for a New York City based multi-strategy fund. On the eve of Samhain or Halloween for those of you without a Celtic bent; I thought it would be appropriate to talk about the various creatures inhabiting stock investing forums on the internet. From the serious discussions on nuclearphynance.com and Willmott.com to Wall Street's infamous gossip site, elitetrader.com, there exist distinct categories of posters. Many traders use these sites for stock tips and picks, market wisdom, getting the latest scoop, news, and even simple entertainment and humor.Whether you are a weathered skipper of these financial forums or a brand new investor who will look for the first time as soon as you finish this article, it's smart to know the major categories of participants who provide the information both good and bad, nonsense or invaluable. These sites are chock full of free information but its important to know how to separate the wheat from the chaff.The most harmless posters are those who I call the bulls or bears depending on their stance. These normally nice and friendly posters are simply talking their book. For example, if they are long a particular stock they will post glowing reviews, bullish technical analysis charts, positive news stories and/or anything to get you on their side and hopefully jump on board with them helping to push the stock higher.Of course, the opposite would be the bear who will post whatever they feel is needed to deflate the stock price. Some true, some not true. While the bull and bear type can make entertaining reading, it's important to always keep in mind that they are generally only pushing their agenda. Some can have amazing information and tactics that can truly help you in your trading. Others may not even be as knowledgeable as you, so it's ...
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Commercial Vehicle Group, Inc. Earnings Call scheduled for 10:00 am ET today

Call DetailsCommercial Vehicle Group, Inc. Earnings Conference Call (Q3 2009)Thu, Oct 29, 2009, 10:00 am EasternAbout Commercial Vehicle Group, Inc. (NasdaqGS:CVGI)Commercial Vehicle Group, Inc., together with its subsidiaries, designs and manufactures integrated system solutions for the commercial vehicle market in North America. It offers seats and seating systems, including air suspension seats, static seats, bus seats, heavy truck seats, and construction and other commercial vehicle seats; and office seating products for various office environments, such as emergency services, call centers, receptions, studios, boardrooms, and general office. The company also provides trim systems and components for the interior cabs of commercial vehicles, which include instrument panels, door panels, headliners/wall panels, storage systems, floor covering systems, sleeper bunks, grab handles and armrests, and privacy curtains. In addition, it offers mirrors and windshield wiper systems; electronic wire harnesses and panel assemblies; and controls and switches, as well as provides cab structures, sleeper boxes, body panels, and structural components for the commercial vehicle industries. Commercial Vehicle Group offers its products primarily to original equipment manufacturers for various end market vehicle applications, including local and long-haul commercial truck, agricultural, military, construction, bus, end market industrial, marine, municipal, recreation, and specialty vehicle. The company was founded in 2000 and is headquartered in New Albany, Ohio.More Info:Quote |Chart |Profile |Reports |...
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3 PowerRatings Stocks to Buy Now

Stocks are being bought aggressively after a sharp sell off on the open. The pattern of buying after a sell off is the one constant that has always existed in the market. Smart money and bargain hunters go to work at the lower levels pushing shares higher. Buying after a sell off seems counter-intuitive to many traders, however real life experience and our extensive studies have proven this to be the most effective strategy for short-term gains. However, you just can't buy will nilly into any stock that has sold off aggressively. There is simple 3 step system to follow that will place the odds firmly in your favor for short-term gains when choosing stocks.The first and most critical step is to only look at stocks trading above their 200-day simple moving average. This assures that a strong, long-term up trend is in place, increasing the odds that you are not buying into a falling knife or catching a stock in a death spiral.The second step is to drill deeper into the list locating stocks that have fallen 5 or more days in a row or experienced 5 plus consecutive lower lows. Yes, you heard me right, fallen 5 or more days in a row. I know this fly in the face of conventional wisdom of buying stocks as they climb higher. However, our studies have clearly proven that stocks are more likely to increase in value after a period of down days than after a period of up days.The third and final step is a combination of whittling the list down even further by looking for names whose 2-period RSI (RSI(2)) is less than 2 (for additional information on this proven indicator click here) and the Stock ...
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COMMERCIAL VEHICLE GROUP, INC. Files SEC form 10-Q, Quarterly Report

ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Company Overview We are a leading supplier of fully integrated system solutions for the global commercial vehicle market, including the Heavy-duty (Class 8) truck market, the construction, military, bus and agriculture market and the specialty transportation markets. As a result of our strong leadership in cab-related products and systems, we are positioned to benefit from the increased focus of our customers on cab design and comfort and convenience features to better serve their end-user, the driver. Our products include suspension seat systems, electronic wire harness assemblies, control and switches, cab structures and components, interior trim systems (including instrument panels, door panels, headliners, cabinetry and floor systems), mirrors and wiper systems specifically designed for applications in commercial vehicles. We are differentiated from suppliers to the automotive industry by our ability to manufacture low volume customized products on a sequenced basis to meet the requirements of our customers. We believe that we have the number one or two position in most of our major markets and that we are the only supplier in the North American commercial vehicle market that can offer complete cab systems including cab body assemblies, sleeper boxes, seats, interior trim, flooring, wire harnesses, panel assemblies and other structural components. We believe our products are used by virtually every major North American heavy truck commercial vehicle OEM, which we believe creates an opportunity to cross-sell our products and offer a fully integrated system solution. Demand for our heavy truck products is generally dependent on the number of new heavy truck commercial vehicles manufactured in North America, which in turn is a function of general economic conditions, interest rates, changes in governmental regulations, consumer spending, fuel costs and our customers' invent...
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3 Best & Worst: Heavy Industry Stocks

Stock quotes in this article: JOYG , OSK , BUCY , ...
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COMMERCIAL VEHICLE GROUP, INC. Financials

Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...
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