2014 Government Regulations & Business Summit
Join PBN and our sponsors for our Government Regulations & Business Summit on Th ...
By Kimberley Donoghue
PBN Web Editor
ATTLEBORO – Sensata Technologies reported a loss of $34.63 million, or 20 cents per diluted share, for the second quarter, swinging into the red from a profit of $82.52 million, or 46 cents per diluted share, a year earlier.
Revenue was $455.04 million, up from $391.81 million. The company said that revenue was $25 million less than it could have been as a result of the effects of the earthquake and tsunami in Japan, a result it predicted in its first-quarter earnings release.
“We are pleased with our results and continue to deliver on our objectives. Our core revenue growth rate, amplified by our recently acquired Magnetic Speed and Position business, resulted in 16.1 percent growth compared to the second quarter of the prior year,” said Tom Wroe, company chairman and CEO.
The manufacturer of sensors and controls said its ending cash balance on June 30 was $287.1 million.