Gentherm (THRM) Reports In-Line Q2 EPS

August 1, 2013 9:20 AM EDT
Gentherm (NASDAQ: THRM) reported Q2 EPS of $0.23, ex-items, in-line with the analyst estimate of $0.23. Revenue for the quarter came in at $160.5 million versus the consensus estimate of $149.93 million.

We had record revenues in this year's second quarter and first six months thanks to the contributions of all our business units around the world," said President and CEO Daniel R. Coker. "The key driver of our revenue growth is our ability to successfully add new platforms and to penetrate new markets not only in our line of automotive products, but also in our newer thermal initiatives in comfort and cooling in bedding, furniture and other products.

"Thanks to the progress we are making with the integration of W.E.T. Automotive Systems, we believe we are well on our way to creating a more global, more diversified and more innovative company that will continue to create more value for all our stakeholders," Coker added. "Today, Gentherm is the world leader in thermal technologies in the automotive market. We believe the Company is in an excellent position to continue to capture additional market share in our current markets, expand into promising new markets and generate strong year-over-year revenue growth."

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


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