Revenue during the quarter went up marginally by 2.46 percent to $875.43 million from $854.40 million in the previous year period. Gross margin for the quarter expanded 123 basis points over the previous year period to 19.23 percent. Total expenses were 93.18 percent of quarterly revenues, down from 96.76 percent for the same period last year. This has led to an improvement of 358 basis points in operating margin to 6.82 percent.

Operating income for the quarter was $59.67 million, compared with $27.68 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $103.83 million compared with $91.31 million in the prior year period. At the same time, adjusted EBITDA margin improved 117 basis points in the quarter to 11.86 percent from 10.69 percent in the last year period.

"2016 was the best year in our Company's history by nearly every measure," stated Jeffrey Edwards, chairman and chief executive officer of Cooper Standard. "We set new all-time highs in sales, gross profit margin, adjusted EBITDA and free cash flow while improving workplace safety, product quality and customer satisfaction. We are very proud of our culture of engagement that is driving innovation and excellence across all areas of the business and significantly contributing to our record results."

Cooper-Standard Holdings Inc. projects revenue to be in the range of $3,480 million to $3,530 million for financial year 2017.

The company has spent $198.27 million cash to meet investing activities during the year as against cash outgo of $166.39 million in the last year. It has incurred net capital expenditure of $164.18 million on net basis during the year, up 1.85 percent or $2.98 million from year ago.

The company has spent $62.92 million cash to carry out financing activities during the year as against cash outgo of $11.59 million in the last year period.

Cash and cash equivalents stood at $480.09 million as on Dec. 31, 2016, up 26.93 percent or $101.85 million from $378.24 million on Dec. 31, 2015.

Working capital increases
Cooper-Standard Holdings Inc. has recorded an increase in the working capital over the last year. It stood at $536.84 million as at Dec. 31, 2016, up 5.66 percent or $28.78 million from $508.06 million on Dec. 31, 2015. Current ratio was at 1.71 as on Dec. 31, 2016, down from 1.75 on Dec. 31, 2015.

Cash conversion cycle (CCC) has decreased to 8 days for the quarter from 14 days for the last year period. Days sales outstanding went down to 29 days for the quarter compared with 30 days for the same period last year.

Days inventory outstanding was almost stable at 10 days for the quarter, when compared with the last year period. At the same time, days payable outstanding went up to 31 days for the quarter from 26 for the same period last year.