Gates Industrial: 2Q Earnings Snapshot
DENVER (AP) _ Gates Industrial Corp. (GTES) on Tuesday reported second-quarter net income of $21.5 million.
The Denver-based company said it had profit of 7 cents per share. Earnings, adjusted for one-time gains and costs, came to 26 cents per share.
The manufacturer of power transmission and fluid power systems posted revenue of $809.9 million in the period.
Gates Industrial shares have fallen 24% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $10, a drop of 44% in the last 12 months.