MAYVILLE, Wis.–(BUSINESS WIRE)–Mayville Engineering Company (NYSE: MEC) (the “Company” or “MEC”), a leading U.S.-based value added manufacturing partner that provides a broad range of prototyping and tooling, production fabrication, coating, assembly and aftermarket services, today announced results for the fourth quarter and full year ended December 31, 2020.
Fourth Quarter 2020 Highlights:
- Produced net sales of $95.3 million
- Recorded net income of $1.0 million
- Generated Adjusted EBITDA of $9.3 million, or 9.8% of net sales
- Reduced total funded debt to $47.9 million, resulting in a leverage ratio of 1.5x
“We executed effectively in the fourth quarter and were pleased with our performance, which, in…