What was the operating performance of the electrical segment in the second quarter of 2019 compared to the second quarter of 2018 
struction has moderated with the economic and trade uncertainties seeming to have an effect.
Based on current visibility, we've upgraded our 2019 Class 8 production outlook slightly to be in the range of 345,000 to 355,000 units. We expect 2019 full year revenues to be slightly above 2018. Looking ahead, our strategy is to position CVG as a more focused and increasingly valued supplier in growing markets with differentiated offerings, which we expect will accelerate long-term profitable growth. As we've discussed, secular growth themes point to the proliferation of electrical components, electronics, connectivity, and power in both current and adjacent markets.
With this in mind, we are investing both organically and through M&A in our core capabilities and our next-generation products to improve our ability to compete and target margins. We believe these investments will not only diversify our customers and geographic footprint, but also drive more consistent performance through the cycle. From an inorganic perspective, these investments could take the form of acquisitions or joint ventures, but would focus on applying our current capabilities into faster-growing adjacent segments or new regions, mainly with our electrical and trim products. Additionally, we are looking to extend our electrical product offerings to align better with the megatrends in our industry by increasing our participation related to electronic components and controls in and around the vehicle architecture.
We are being thoughtful and disciplined in our pursuit of any external investments to ensure we are allocating capital to the highest return opportunities for the business. Despite some of the headwinds we faced during the quarter, we are committed to effectively managing the business and profitability, while we better position the business to deliver long-term performance for CVG. We look forward to updating you as we execute on our strategic initiatives. With that, I'll turn the call over to Tim, who is going to go through the financials in more detail.
Tim Trenary -- Chief Financial Officer
Thank you, Pat, and good morning. Second-quarter 2019 consolidated revenues were $243.2 million, compared to $233.4 million in the prior-year period. An increase of 4%. As Pat mentioned, this increase reflects the continued strength in the medium- and heavy-duty truck markets we serve in North America.
Foreign currency translation adversely impacted second-quarter consolidated revenues by $3.5 million. Consolidated operating income for the second quarter of 2019 was $17.2 million or 7.1% of sales, compared to $20.9 million or 8.9% of sales in the prior-year period. The new Border Minimum Wage in Mexico, costs associated with a troubled supplier and costs associated with establishing additional manufacturing capacity are largely responsible for a decrease in operating income and more specifically, the operating performance of the electrical Segment. More on this in a moment.
Cost control and cost recovery actions reduced the impact of these cost pressures on gross profit. Costs associated with the strategic reorganization of the company to, among other things, develop a platform from which to pursue business and corporate development activities amounted to approximately $1 million in the quarter. We fully expect this investment of corporate resources to pay dividends in the future. Interest and other expense increased $4.3 million in the second quarter of 2019 compared to the second quarter of 2018.
The increase reflects the impact of mark-to-market interest rate swap agreements, which resulted in a $1.1 million non-cash charge in the three months ended June 30, 2019, as compared to a $0.5 million gain in the prior-year period. In addition, the second-quarter results include a $2.5 million non-cash charge associated with a voluntary lump sum settlement of $7.8 million in pension liabilities for a portion of our term-vested participants, thereby reducing the future financial risk of our pension plan. Following the transaction, U.S. pension plan is essentiall
struction has moderated with the economic and trade uncertainties seeming to have an effect.
Based on current visibility, we've upgraded our 2019 Class 8 production outlook slightly to be in the range of 345,000 to 355,000 units. We expect 2019 full year revenues to be slightly above 2018. Looking ahead, our strategy is to position CVG as a more focused and increasingly valued supplier in growing markets with differentiated offerings, which we expect will accelerate long-term profitable growth. As we've discussed, secular growth themes point to the proliferation of electrical components, electronics, connectivity, and power in both current and adjacent markets.
With this in mind, we are investing both organically and through M&A in our core capabilities and our next-generation products to improve our ability to compete and target margins. We believe these investments will not only diversify our customers and geographic footprint, but also drive more consistent performance through the cycle. From an inorganic perspective, these investments could take the form of acquisitions or joint ventures, but would focus on applying our current capabilities into faster-growing adjacent segments or new regions, mainly with our electrical and trim products. Additionally, we are looking to extend our electrical product offerings to align better with the megatrends in our industry by increasing our participation related to electronic components and controls in and around the vehicle architecture.
We are being thoughtful and disciplined in our pursuit of any external investments to ensure we are allocating capital to the highest return opportunities for the business. Despite some of the headwinds we faced during the quarter, we are committed to effectively managing the business and profitability, while we better position the business to deliver long-term performance for CVG. We look forward to updating you as we execute on our strategic initiatives. With that, I'll turn the call over to Tim, who is going to go through the financials in more detail.
Tim Trenary -- Chief Financial Officer
Thank you, Pat, and good morning. Second-quarter 2019 consolidated revenues were $243.2 million, compared to $233.4 million in the prior-year period. An increase of 4%. As Pat mentioned, this increase reflects the continued strength in the medium- and heavy-duty truck markets we serve in North America.
 Foreign currency translation adversely impacted second-quarter consolidated revenues by $3.5 million. Consolidated operating income for the second quarter of 2019 was $17.2 million or 7.1% of sales, compared to $20.9 million or 8.9% of sales in the prior-year period. The new Border Minimum Wage in Mexico, costs associated with a troubled supplier and costs associated with establishing additional manufacturing capacity are largely responsible for a decrease in operating income and more specifically, the operating performance of the electrical Segment. More on this in a moment.
Cost control and cost recovery actions reduced the impact of these cost pressures on gross profit. Costs associated with the strategic reorganization of the company to, among other things, develop a platform from which to pursue business and corporate development activities amounted to approximately $1 million in the quarter. We fully expect this investment of corporate resources to pay dividends in the future. Interest and other expense increased $4.3 million in the second quarter of 2019 compared to the second quarter of 2018.
The increase reflects the impact of mark-to-market interest rate swap agreements, which resulted in a $1.1 million non-cash charge in the three months ended June 30, 2019, as compared to a $0.5 million gain in the prior-year period. In addition, the second-quarter results include a $2.5 million non-cash charge associated with a voluntary lump sum settlement of $7.8 million in pension liabilities for a portion of our term-vested participants, thereby reducing the future financial risk of our pension plan. Following the transaction, U.S. pension plan is essentiall