Sensata Tech Q3 Profit Rises, Results Beat Estimates

(RTTNews) - Sensata Technologies Holding N.V. (ST), a maker of sensors and controls for automotives, Tuesday said its third-quarter profit increased on revenue growth and tax benefits. Results topped analysts' expectations.

Net profit increased to $81.96 million or $0.48 per share, from $66.02 million or $0.37 per share last year. Excluding certain items, the company recorded a profit of $107.72 million or $0.63 per share. On average, thirteen analysts polled by Thomson-Reuters estimated earnings to be $0.62. Analysts' estimates typically exclude one-time items.

The Dutch company's revenues grew 15.7 percent to $577.1 million from $498.89 million in the previous year. Analysts projected revenues to be $559.85 million.

The company recorded a tax benefit of $21.98 million in the quarter, in comparison with a provision of $20.22 million a year ago.

Looking ahead, the company expects to earn adjusted profit of $84 million - $92 million or $0.49 - $0.54 per share, for the fourth quarter, on net revenues of $680 million - $705 million. It expects adjusted profit of $2.30-$2.35 per share for the full year.

Analysts expect fourth-quarter earnings of $0.58 on revenues of $600.75 million, and full year earnings of $2.37.