LONG ISLAND CITY, N.Y. (AP) — LONG ISLAND CITY, N.Y. (AP) — Standard Motor Products Inc. (SMP) on Wednesday reported first-quarter profit of $12.6 million.
On a per-share basis, the Long Island City, New York-based company said it had profit of 56 cents. Earnings, adjusted for one-time gains and costs, came to 81 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The auto parts maker posted revenue of $413.4 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $394.2 million.
