Stoneridge Inc. Q3 Profit Increases, beats estimates

(RTTNews) - Stoneridge Inc. (SRI) reported earnings for its third quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $2.17 million, or $0.08 per share. This compares with $0.73 million, or $0.03 per share, in last year's third quarter.

Excluding items, Stoneridge Inc. reported adjusted earnings of $2.9 million or $0.10 per share for the period.

Analysts on average had expected the company to earn -$0.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.0% to $238.16 million from $226.76 million last year.

Stoneridge Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $2.17 Mln. vs. $0.73 Mln. last year. -EPS (Q3): $0.08 vs. $0.03 last year. -Analyst Estimate: -$0.02 -Revenue (Q3): $238.16 Mln vs. $226.76 Mln last year.

-Guidance: Full year EPS guidance: (-$0.10) - $0.00 Full year revenue guidance: $965.0 - $975.0 Mln