Stoneridge Inc. said its first-quarter normalized net income came to 7 cents per share, compared with the S&P Capital IQ consensus estimate of 12 cents per share.
EPS increased year over year from 3 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.8 million, a gain from $870,500 in the year-earlier period.
The normalized profit margin increased to 1.1% from 0.5% in the year-earlier period.
Total revenue totaled $162.8 million, compared with $161.3 million in the prior-year period, and total operating expenses increased from the prior-year period to $159.7 million from $154.9 million.
Reported net income increased on an annual basis to $2.5 million, or 9 cents per share, from $548,180, or 2 cents per share.
