Dorman Products: 2Q Earnings Snapshot
COLMAR, Pa. (AP) _ Dorman Products Inc. (DORM) on Tuesday reported second-quarter profit of $21.5 million.
On a per-share basis, the Colmar, Pennsylvania-based company said it had net income of 66 cents. Earnings, adjusted for costs related to mergers and acquisitions, came to 68 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.16 per share.
The distributor of parts to automotive retailers posted revenue of $254.2 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $263.7 million.
Dorman Products expects full-year earnings in the range of $3.26 to $3.46 per share.
Dorman Products shares have declined roughly 8% since the beginning of the year. The stock has climbed 15% in the last 12 months.