Stoneridge’s Q3 net income up 39% y/y to USD10.3 million
Reaffirms full-year earnings outlook, adjusts net sales forecast
Stoneridge’s net income increased 39% year-over-year (y/y) to USD10.3 million in the three months ended 30 September 2016, the US-based supplier said in a press release. The company’s operating income grew 31.7% y/y to USD11.8 million, resulting an operating margin of 6.8%. Stoneridge attributed the strong growth in earnings to 11.8% y/y increase in net sales to USD173.8 million.
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