Stoneridge Inc. reported un-audited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net sales of $235.7 million, a decrease of $26.6 million, or 10.1%, compared with $262.3 million for the first quarter of 2012. The decrease in the current quarter's Net Sales were primarily due to lower sales in the company's Wiring business segment and lower sales in the PST business segment. Net income attributable to the company was $4.1 million, or $0.15 per diluted share, compared with $5.9 million, or $0.22 per diluted share, in the first quarter of 2012. The decrease in net income was primarily due to lower sales in the first quarter of 2013 compared with the same period in 2012. The company reported operating income of $10.3 million compared to $11.8 million, net cash used for operating activities of $0.6 million compared to net cash provided by operating activities of $5.9 million and capital expenditures of $5.8 million compared to $6.8 million for the last year. The company reaffirmed 2013 guidance of $0.75 to $0.95 per share as published on February 7, 2013, based on market improvement and cost initiatives. Even with the modest increase in volumes, the company expects its profitability to improve solidly during 2013 due to its mix of products, cost initiatives, continued efficiency improvements and a stabilizing currency and commodity markets. The company expects its second quarter of 2013 sales levels volumes to be near or slightly better than its first quarter level as Brazil’s GNP is still running at less than 3% this year, softness in the European commercial markets and lower levels of commercial business in North America. From the market projections and the improving sales trends over the last three quarters, the company expects second half sales to improve modestly above the first half sales. The company expects its core business sales in the first half of 2013 to be lower than the first half of 2012.

Stoneridge Inc., Q1 2013 Earnings Call, May 09, 2013

Stoneridge Inc., Annual General Meeting, May 06, 2013., at 11:00 US Eastern Standard Time. Location: The Cleveland Airport Marriott Hotel. Agenda: To consider the election of eight directors, each for a term of one year; to consider the ratification of the appointment of Ernst & Young LLP; to consider the an advisory vote on executive compensation; to approve an amendment to its Amended and Restated Long-Term Incentive Plan; to approve an amendment to its Amended Directors’ Restricted Shares Plan; and to consider the any other matters properly brought before the meeting.