Rieter Net Income Up 34% in 2007

Winterthur, Switzerland – Rieter reported that sales rose by 12 percent to $3.9 billion. The operating result before interest and taxes rose by 54 percent for the year to $278 million.

Net income also rose 34 percent to $208 million.

Both divisions of Rieter, Textile Systems and Automotive Systems, recorded significant growth , the company said. The investment climate on the world market for textile machinery was very favorable in the first six months in particular.

Rieter Textile Systems reported a record operating result before interest and taxes of $197 million. Operating margin rose to 13.1 percent of corporate output.

Rieter Textile Systems supplies integrated systems for manufacturing yarns from natural and man-made fibers for all applications.