logo
  

Stoneridge FY19 Profit Rises

Stoneridge Inc. (SRI) reported that its net income for fiscal year 2019 rose to $60.29 million or $2.13 per share from $53.85 million or $1.85 per share in the prior year.

Net sales for the year declined to $834.29 million from $866.20 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.52 per share and revenues of $823.59 million. Analysts' estimates typically exclude special items.

For 2020, the company expects adjusted earnings per share to be $0.95 - $1.15. Analysts expect annual earnings of $1.70 per share.

The company's board has authorized a share repurchase program for up-to $50 million over the next 18 months. This is in addition to the $50 million share repurchase authorization we announced late in 2018.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Teva Pharmaceuticals USA, Inc. has recalled one lot of platelet-reducing drug Anagrelide in the form of capsules due to dissolution test failure detected during routine stability testing, the U.S. Food and Drug Administration, or FDA, said in a statement. The U.S. Food and Drug Administration said it has taken steps to make available millions of cans of additional infant and specialty formula to U.S. consumers in the coming months. Under the agency's recent increased flexibilities, British nutrition products maker Kendal Nutricare will send about 2 million cans of infant formula under the Kendamil brand initially to U.S. beginning in June. Video streaming giant Netflix Inc. announced the availability of a variety of mobile games. Players can download the games directly from the Netflix mobile app. The new games include Dragon Up (East Side Games), Moonlighter (11 Bit Studios), Townsmen - A Kingdom Rebuilt (HandyGames), and Exploding Kittens - The Game (Exploding Kittens Digital).
Follow RTT