COLMAR, Pa. (AP) _ Dorman Products Inc. (DORM) on Monday reported first-quarter earnings of $32.7 million.
The Colmar, Pennsylvania-based company said it had net income of $1.02 per share. Earnings, adjusted for one-time gains and costs, came to $1.04 per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.02 per share.
The distributor of parts to automotive retailers posted revenue of $288 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $295.5 million.
Dorman Products expects full-year earnings in the range of $4.40 to $4.60 per share, with revenue in the range of $1.19 billion to $1.22 billion.
Dorman Products shares have increased 28% since the beginning of the year. The stock has increased 92% in the last 12 months.
