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Sensata Technologies Holding N.V. first-quarter profit rises 18.35 percent on a YOY basis

Source: IRIS (07 July 2017)



Sensata Technologies Holding N.V. (ST) has reported an 18.35 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $71.74 million, or $0.42 a share in the quarter, compared with $60.61 million, or $0.35 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $121.48 million, or $0.71 a share compared with $113.23 million or $0.66 a share, a year ago.

Revenue during the quarter went up marginally by 1.35 percent to $807.27 million from $796.55 million in the previous year period. Gross margin for the quarter expanded 34 basis points over the previous year period to 34.01 percent. Total expenses were 84.99 percent of quarterly revenues, down from 85.74 percent for the same period last year. This has led to an improvement of 75 basis points in operating margin to 15.01 percent.

Operating income for the quarter was $121.15 million, compared with $113.59 million in the previous year period.

"We started the year off strong, delivering solid organic revenue growth, margin expansion, and double-digit organic EPS growth during the first quarter of 2017," said Martha Sullivan, president and chief executive officer. "Our revenue growth was balanced between both segments, while China continues to be our strongest geographic region. We delivered impressive year-over-year margin expansion despite facing foreign exchange headwinds and higher integration costs. As we move ahead, we remain focused on pursuing strategic investments that will drive future growth, while continuing to expand margins and improve profitability."

For the fiscal year 2017, Sensata Technologies Holding N.V. expects revenue to be in the range of $3,165 million to $3,265 million. It projects adjusted net income to be in the range of $528 million to $550 million. It projects diluted earnings per share to be in the range of $1.88 to $1.96. It projects diluted earnings per share to be in the range of $3.08 to $3.20 on adjusted basis for the same period. 

For the second-quarter, Sensata Technologies Holding N.V. expects revenue to be in the range of $820 million to $844 million. It projects adjusted net income to be in the range of $131 million to $137 million. It projects diluted earnings per share to be in the range of $0.45 to $0.46. It projects diluted earnings per share to be in the range of $0.76 to $0.80 on an adjusted basis for the same period.


Operating cash flow declines
Sensata Technologies Holding N.V. has generated cash of $119.70 million from operating activities during the quarter, down 12.12 percent or $ 16.50 million, when compared with the last year period.

The company has spent $30.12 million cash to meet investing activities during the quarter as against cash outgo of $87.60 million in the last year period.

The company has spent $9.31 million cash to carry out financing activities during the quarter as against cash outgo of $42.88 million in the last year period.

Cash and cash equivalents stood at $431.70 million as on Mar. 31, 2017, up 24.06 percent or $83.71 million from $347.99 million on Mar. 31, 2016.


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