Cooper-Standard: 4Q Earnings Snapshot
NOVI, Mich. (AP) _ Cooper-Standard Holdings Inc. (CPS) on Thursday reported a fourth-quarter loss of $23.1 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Novi, Michigan-based company said it had a loss of $1.30. Earnings, adjusted for non-recurring costs, were $1.53 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.99 per share.
The auto parts supplier posted revenue of $872 million in the period.
For the year, the company reported profit of $107.8 million, or $5.89 per share. Revenue was reported as $3.63 billion.
Cooper-Standard expects full-year revenue in the range of $3.4 billion to $3.6 billion.
Cooper-Standard shares have climbed 20 percent since the beginning of the year. The stock has decreased 35 percent in the last 12 months.