CHICAGO, US – SRAM saw its financial results increase with double digit figures during the first three months of 2011. The US based component maker also anticipated financially on its IPO later this year.
SRAM saw its sales grow with 20% to US$ 146.5 million (€ 103.4 mn) during the first three months of the year. Net profit was up 62% to US$ 17.8 million (€ 12.6 mn). Thanks to higher volumes and higher prices SRAM gross margin increased to 41%.
Further financial news on SRAM is on the company’s re-capitalization in preparation for its Initial Public Offering (IPO). The component maker retrieved the controlling stake Triatlantic Partners, formerly Lehman Brothers Merchant Bank, and co-investors had in SRAM. The company that is going public later this year obtained new credit facilities for a total of US$ 790 million (€ 557.4 mn) last month.
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