ATTLEBORO – Sensata Technologies N.V. reported a bottom line of $177.5 million, or 98 cents per diluted share, for 2012, versus profit of $6.5 million, or 4 cents per diluted share, reported during 2011.
The company’s revenue rose as well, by 4.8 percent during the year to $1.91 billion from $1.82 billion during 2011.
The company’s adjusted net income – a non-GAAP measure Sensata uses internally that adjusts net income and removes the effects of financing, investments, inventory re-valuing, depreciation, amortization and other adjustments – was a record $356.6 million, or $1.96 per diluted share, 5.7 percent greater than the adjusted net income of $355.5 million, or $1.96 per diluted share, during 2011.
During the fourth quarter alone, the company’s net income rose 191 percent to $70.9 million, or 39 cents per diluted share. In addition, the company’s revenue declined 1.77 percent to $445.4 million during the quarter.
Of the $445.4 million fourth quarter revenue, the company spent 6.4 percent on research-, development- and engineering-related costs.
The company’s adjusted net income for the fourth quarter was $85.3 million, or 47 cents per diluted share, a 4 percent increase from the $82 million, or 45 cents per diluted share, reported for the fourth quarter of 2011.
“We are satisfied by the performance of the business during a challenging fourth quarter of 2012,” Martha Sullivan, president and CEO, said in prepared remarks. “While our top line growth opportunities will continue to be challenged by near-term economic weakness in 2013, our disciplined focus on margin improvement will result in higher earnings growth.
“We remain confident our long-term growth drivers are still intact,” said Sullivan.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.