Gentherm tops fourth quarter profit forecasts

NORTHVILLE (AP) - Gentherm Inc. on Tuesday reported fourth-quarter earnings of $26 million.

The Northville, Michigan-based company said it had net income of 71 cents per share. Earnings, adjusted for non-recurring gains, came to 68 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The maker of climate-controlled seats and other products posted revenue of $236.5 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $238.2 million.

For the year, the company reported profit of $76.6 million, or $2.09 per share. Revenue was reported as $917.6 million.

Gentherm shares have risen 5.5 percent since the beginning of the year. The stock has declined 16 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on THRM at https://www.zacks.com/ap/THRM.

Published: Wed, Feb 22, 2017