MAUMEE, Ohio (AP) _ Dana Inc. (DAN) on Wednesday reported first-quarter profit of $71 million.
On a per-share basis, the Maumee, Ohio-based company said it had net income of 48 cents. Earnings, adjusted for one-time gains and costs, came to 66 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The automotive equipment supplier posted revenue of $2.26 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $2.02 billion.
Dana expects full-year earnings in the range of $2.10 to $2.60 per share, with revenue in the range of $8.5 billion to $9 billion.
Dana shares have risen 42% since the beginning of the year. The stock has nearly tripled in the last 12 months.
