Novi's Stoneridge Inc. Reports $7.1 Million Loss in Third Quarter
Novi, Mich. — In a recent announcement, Stoneridge Inc. has shared that it faced a **loss of $7.1 million** during its third quarter. The local company, known for making electronic components for the automotive sector among others, reported a loss of **26 cents per share**.
After adjusting for certain non-recurring costs, the adjusted loss was slightly lower at **24 cents per share**. The company’s total revenue for this period reached **$213.8 million**, showcasing their efforts to generate income amidst tough challenges.
As Stoneridge continues to navigate these financial hurdles, stakeholders and market analysts will be closely watching the firm’s performance in the upcoming quarters.
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