MAUMEE, Ohio (AP) _ Dana Inc. (DAN) on Wednesday reported third-quarter profit of $45 million.
The Maumee, Ohio-based company said it had profit of 31 cents per share. Earnings, adjusted for one-time gains and costs, were 37 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The automotive equipment supplier posted revenue of $1.99 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $1.81 billion.
Dana expects full-year earnings in the range of 35 cents to 55 cents per share, with revenue in the range of $6.65 billion to $6.95 billion.
Dana shares have declined 20% since the beginning of the year. The stock has declined 12% in the last 12 months.
