Gentherm (THRM) Falls as Q2 Results Miss View

July 28, 2016 11:04 AM EDT

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Gentherm (NASDAQ: THRM) is down 11% early Thursday after the company reported Q2 EPS of $0.59, $0.07 worse than the analyst estimate of $0.66. Revenue for the quarter came in at $232.7 million versus the consensus estimate of $240.46 million.

"Our overall topline growth of 9 percent included promising strength in several of our businesses and product lines, including our new Cincinnati Sub Zero (CSZ) subsidiary, our heated seats, heated and ventilated seats and heated steering wheel product lines, and our Electronics Business Unit which is part of our new Gentherm Technologies division," said President and CEO Daniel R. Coker. "Our strategy to expand into new and high-potential vertical markets is driving our investment in additional resources and related higher operating expenses to support these new markets and products. This investment is also creating important new growth drivers and revenue streams, all of which bode well for our future. Today we are a much larger, stronger and more diversified thermal technology company than ever before."

For earnings history and earnings-related data on Gentherm (THRM) click here.

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