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CVG Reports Fourth Quarter And Full Year 2020 Results


CVG Reports Fourth Quarter And Full Year 2020 Results
Record 4th Quarter Sales in the Electrical Systems Segment driven by Warehouse Automation
Estimated $100+ million of Net Annualized New Business Awards Secured During 2020, Driven by Warehouse Automation and Electric Vehicles
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NEW ALBANY, Ohio, March 9, 2021 /PRNewswire/ CVG (NASDAQ: CVGI), a diversified industrial products and services company, today announced financial results for its fourth quarter and full year ended December 31, 2020.
Fourth Quarter 2020 Highlights
Revenue of $216.0 million, up 14.0% due primarily to growth in warehouse automation.
Operating Income of $5.0 million, up $9.3 million primarily due to higher volume and improved cost structure driven by cost reduction actions taken throughout 2020.  ....

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