Company: CVGI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001628280-25-012913
Chunk: 127

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 127
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 December 31, 2024 includes the gain and loss on the respective transactions, as noted above.Twelve Months Ended December 31,202420232022CASH FLOWS FROM DISCONTINUED OPERATIONS:Net cash provided by (used in) operating activities(13,954)8,818 14,380 Net cash provided by (used in) investing activities(838)(749)(525)Total cash provided by (used in) discontinued operations$(14,792)$8,069 $13,855 

Supplementary Financial Information

Quarterly Results of Operations (Unaudited)

During the year ended December 31, 2024, the Company sold its cab structures business with operations in Kings Mountain, North Carolina and its Industrial Automation segment including First Source Electronics business with operations in Elkridge, Maryland. These divestitures represent a strategic shift in CVG's business and, in accordance with U.S. GAAP, qualified as discontinued operations. As a result, the operating results related to the cab structures business and Industrial Automation segment have been reflected as discontinued operations in the Consolidated Statements of Operations.

The following tables present our unaudited consolidated quarterly results of operations, including retrospective changes for discontinued operations. This data has been derived from unaudited consolidated financial statements that have been prepared on the same basis as the annual audited consolidated financial statements and, in our opinion, include all normal recurring adjustments necessary for the fair presentation of such information. These unaudited quarterly results should be read in conjunction with our audited consolidated financial statements, included in this report. 

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Three Months Ended March 31, 2024June 30, 2024September 30, 2024December 31, 2024(In thousands, except per share amounts)Revenues$194,626 $193,665 $171,772 $163,292 Cost of revenues171,462 173,206 155,351 150,217 Gross profit23,164 20,459 16,421 13,075 Selling, general and administrative expenses18,655 19,395 17,481 18,346 Operating income (loss)4,509 1,064 (1,060)(5,271)Other (income) expense212 206 (1,033)(1,585)Interest expense2,186 2,417 2,371 2,