date:Jun 06, 2014
.
The earnings decline reported today was at the high end of a 35% to 40% contraction that Remy predicted in April, when it posted sales that fell further than analysts had estimated. On an organic basis, which excludes acquisitions, disposals and currency shifts, profit decreased 41%, steeper than the 35% median drop estimated by six analysts.
Stock Declines
Remy fell as much as 3.3%, the biggest intraday decline since May 20, and was trading down 0.3% at 67.38 euros as of 9:58 am in Paris.