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Gentherm Q1 profit climbs 13.0% YOY

Gentherm Inc. said its first-quarter normalized net income came to 45 cents per share, compared with the S&P Capital IQ consensus estimate of 53 cents per share.

EPS rose 10.9% year over year from 41 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $16.4 million, a gain of 13.0% from $14.5 million in the year-earlier period.

The normalized profit margin climbed to 7.9% from 7.5% in the year-earlier period.

Total revenue climbed 6.7% year over year to $206.9 million from $193.9 million, and total operating expenses grew 7.2% from the prior-year period to $179.8 million from $167.8 million.

Reported net income increased 19.2% from the prior-year period to $19.9 million, or 55 cents per share, from $16.7 million, or 47 cents per share.