Dorman Products: 2Q Earnings Snapshot
COLMAR, Pa. (AP) _ Dorman Products Inc. (DORM) on Tuesday reported second-quarter net income of $34.3 million.
The Colmar, Pennsylvania-based company said it had profit of $1.03 per share. Earnings, adjusted for non-recurring costs, came to $1.09 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.
The distributor of parts to automotive retailers posted revenue of $238.1 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $246.3 million.
Dorman Products expects full-year earnings in the range of $4.15 to $4.27 per share.
Dorman Products shares have climbed 21 percent since the beginning of the year. The stock has decreased 5.5 percent in the last 12 months.