TriMas Q2 Profit Rise; Reaffirms FY13 Outlook

(RTTNews) - TriMas Corp. (TRS) reported that its second-quarter net income attributable to the company rose to $26.89 million or $0.67 per share from $16.66 million or $0.44 per share in the prior year quarter.

Earnings per share from continuing operations attributable to the company for the quarter was $0.65, as compared to $0.44 during second quarter 2012. Excluding Special Items, second quarter 2013 earnings per share from continuing operations would have been $0.69, a 13.1% improvement from $0.61 in second quarter 2012.

Second quarter net sales were $378.0 million, an increase of 11.7% as compared to $338.4 million in second quarter 2012.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.66 per share and revenues of $361.31 million for the quarter. Analysts' estimates typically exclude special items.

The company reaffirmed its expectations for full year 2013. The Company estimates that 2013 sales will increase 6% to 8% compared to 2012. The Company expects full year 2013 earnings per share from continuing operations to be between $2.15 and $2.25 per share, excluding any current and future events that may be considered Special Items. Analysts expect the company to report earnings of $2.22 per share and revenues of $1.38 billion for fiscal 2013.