Cooper Standard reported a net loss of $67.4 million for the fourth quarter of 2019. Weak light vehicle production and commercial pressures in Asia negatively impacted financial results. Despite these challenges, the company generated positive free cash flow.
Net new business awards totaled $191 million in the quarter.
Contract awards related to the Company’s innovation products totaled $104 million in the quarter.
The company successfully conducted 73 new launches of customer programs, an increase of 30 percent over the same period a year ago.
Fourth quarter cash from operating activities was $68 million and free cash flow was $34 million.
Based on the outlook for the global automotive industry, macroeconomic conditions, current customer production schedules and the company's own operating plans, including the estimated first quarter impact of the coronavirus outbreak in China, the Company has issued 2020 full year guidance.
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