Component Maker Accuride’s Fourth-Quarter Profit Dips

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Commercial vehicle component maker Accuride Corp. said Tuesday it earned $14.3 million or 41 cents a share in the fourth quarter, compared with $14.9 million or 43 cents a year earlier.Net sales rose to $344.9 million from $297.7 million for the same quarter a year earlier.Net income for the full year was $65.1 million or $1.88 a share, up from $51.2 million or $1.70 a year earlier. Net sales rose 9.7% to $1.41 billion from pro forma $1.28 billion in 2005. Accuride went public in April 2005. (Click here for previous coverage.)“We believe the year will be very challenging with Class 8 production expected to decline by approximately 35% to 45%,” Chairman and Chief Executive Officer Terry Keating said in a statement.Based on North American Class 8 truck production of 200,000 to 235,000 units and Class 5-7 production of 200,000 to 205,000 units, Accuride expects adjusted earnings before taxes and interested for this year to be $115 million to $135 million.