Stoneridge: Q2 Earnings Snapshot
NOVI, Mich. (AP) _ Stoneridge Inc. (SRI) on Wednesday reported second-quarter net income of $19.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Novi, Michigan-based company said it had net income of 72 cents. Losses, adjusted for non-recurring gains, came to 14 cents per share.
The maker of electronic components for the automotive and other markets posted revenue of $191.3 million in the period.
Stoneridge expects full-year earnings in the range of 20 cents to 30 cents per share, with revenue in the range of $770 million to $790 million.
Stoneridge shares have decreased slightly more than 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $27.68, a climb of 31% in the last 12 months.