MAUMEE, Ohio (AP) _ Dana Inc. (DAN) on Friday reported second-quarter net income of $53 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Maumee, Ohio-based company said it had net income of 36 cents. Earnings, adjusted for one-time gains and costs, came to 59 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The automotive equipment supplier posted revenue of $2.21 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $2.12 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 increased 22% since the beginning of the year. The stock has increased 85% in the last 12 months.
