The Vaughan, Ont.-based company posted second-quarter revenue of  $1.1 billion and net income of $25.5 million, up from revenue of nearly $885 million and net income of nearly $24 million in the same period last year. (The Logic)

Talking point: It attributed the sales bump to increased vehicle production that was “disproportionately impacted” by the semiconductor shortage last year, as well as new programs, such as the Ford Mustang Mach-E, Lucid Air and Tesla Model Y. The company declared a five-cent per share dividend and maintained its outlook for 2023, predicting that business should pick up beginning next quarter “as supply chain bottlenecks improve.” Its new contracts include additional orders for the Mach-E and on General Motors’ EVs, and more work on a Samsung battery enclosure for Stellantis. Executive Chairman Rob Wildeboer said in a press release that “automotive parts suppliers have technically been in a recession for over two years …Things are looking up.” Shares closed up about seven per cent.