Hi Pat: What is your opinion on Remy International? I initially heard about them with respect to technology that reduces the reliance on rare earth metals in electric motors. Thanks.
Remy International, $27, symbol RMYI on the U.S. over-the-counter market (Shares outstanding: 31.5 million; Market cap: $850.5 million; www.remyinc.com), makes and distributes starters and alternators for cars and trucks, trains, and gasoline-electric hybrid motors.
Remy Delco was a division of General Motors until 1994, when a group of private investors bought the company. In 2004, the company changed its name to Remy International.
In the three months ended March 31, 2011, Remy’s revenue rose 17.7%, to $306.4 million from $260.4 million a year earlier. Earnings per share jumped to $0.70 from $0.27. Cold winter weather pushed up sales of starters for commercial vehicles, and certain customers replenished their inventories. As well, Remy uses copper to make its products, and it benefited from hedging contracts that helped protect it from rising copper prices.
Remy’s long-term debt of $295.8 million is a manageable 34.9% of its market cap.
In May 2010, the U.S. Department of Energy finalized a $60.2-million American Recovery and Reinvestment Act…
Privacy Policy and Terms of Use
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Changes to this Policy
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