Stoneridge Inc. said its normalized net income for the fourth quarter amounted to 15 cents per share, compared with the S&P Capital IQ consensus estimate of 22 cents per share.
EPS decreased 59.3% year over year from 36 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.1 million, a decrease of 57.6% from $9.7 million in the prior-year period.
The normalized profit margin fell to 2.7% from 5.8% in the year-earlier period.
Total revenue declined 7.3% year over year to $154.6 million from $166.8 million, and total operating expenses decreased 9.4% from the prior-year period to $146.1 million from $161.3 million.
Reported net income came to $5.9 million, or 21 cents per share, compared to a loss of $24.8 million, or a loss of 92 cents per share, in the year-earlier period.
For the year, the company's normalized net income totaled 56 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 87 cents.
EPS declined 26.3% from 76 cents in the prior year.
Normalized net income was $15.6 million, a fall of 23.5% from $20.4 million in the prior year.
Full-year total revenue decreased from the prior-year period to $644.8 million from $660.6 million, and total operating expenses declined on an annual basis to $615.8 million from $632.9 million.
The company said reported net income came to $22.9 million, or 82 cents per share, in the full year, compared with a loss of $37.7 million, or a loss of $1.40 per share, the prior year.