NOVI, Mich. (AP) _ Stoneridge Inc. (SRI) on Wednesday reported a second-quarter loss of $21.7 million, after reporting a profit in the same period a year earlier.
The Novi, Michigan-based company said it had a loss of 81 cents per share. Losses, adjusted for restructuring costs and non-recurring costs, came to 55 cents per share.
The maker of electronic components for the automotive and other markets posted revenue of $99.5 million in the period.
Stoneridge shares have dropped 24% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $22.26, a decrease of 34% in the last 12 months.