* Q4 loss $0.01/shr vs est loss $0.04/shr
* Sales down 15.3 pct
* Sees markets improving over next two years
Feb 16 Stoneridge Inc (SRI.N), a maker of
electrical and electronic components, posted a
narrower-than-expected quarterly loss, helped mainly by its
restructuring and cost-cutting initiatives.
For the fourth quarter, the company posted a net loss of
$218,000, or 1 cent a share, compared with $108.4 million, or
$4.63 a share, a year ago.
Net sales fell by 15.3 percent to $133.8 million.
Analysts on average were looking for a loss of 4 cents per
share on revenue of $137.7 million, according to Thomson
Restructuring charges fell to $242,000 from $2.5 million
Stoneridge forecast the markets to improve over the next
two years, and the company expects its recent product launches
to have a significant impact on revenue growth.
"With a lower cost structure and gradually improving
industry volumes, we are positioned to show continued
improvement," Chief Executive John Corey said in a statement.
Shares of the Warren, Ohio-based company were trading down
3 cents at $6.89 Tuesday on the New York Stock Exchange.
(Reporting by Anirban Sen in Bangalore; Editing by Maju