STONERIDGE, INC. (NYSE:SRI) Files An 8-K Regulation FD DisclosureITEM 7.01
Senior executives of Stoneridge, Inc. (the “Company”) are presenting at the J.P. Morgan Auto Conference on August9, 2017. In connection with such presentation, the Company is making available the presentation slides attached hereto as Exhibit 99.1, which are incorporated herein by reference.
The presentation furnished as Exhibit 99.1 hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
The presentation contains certain non-GAAP financial measures Adjusted Gross Profit, Adjusted Operating Income, Adjusted Net Income, Adjusted Earnings per Diluted Share Attributable to Stoneridge Inc. (“Adjusted EPS”) and Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”). EBITDA represents the sum of net income, interest, income taxes, depreciation and amortization. Management believes that the presentation of the non-GAAP financial measures used in the presentation are useful to both management and investors in their analysis of the Company’s financial position, results of operations and expected results of operations because the Adjusted Gross Profit, Adjusted Operating Income, Adjusted Net Income, Adjusted EPS and Adjusted EBITDA facilitates a period to period comparison of operating results by excluding significant unusual, non-recurring items in 2017. For 2017, these items relate to the after-tax transaction costs related to the acquisition of Orlaco, the after-tax step-up in acquired Orlaco inventory, after-tax step-up in fair value of the earn-out consideration related to the acquisitions of Orlaco and the remaining 26% minority interest in PST. These non-GAAP measures, however, should not be considered in isolation or as a substitute for the most comparable GAAP measures. Investors are cautioned that non-GAAP financial measures utilized by the Company may not be comparable to non-GAAP financial measures used by other companies. Adjusted Gross Profit, Adjusted Operating Income, Adjusted Net Income, Adjusted EPS and Adjusted EBITDA should not be considered a substitute for Gross Profit, Operating Income, Net Income or Earnings Per Share prepared in accordance with GAAP.
| ITEM 9.01 | Financial Statements and Exhibits. |
| Exhibit No. | Description |
|
99.1 |
J.P. Morgan Auto Conference presentation dated August 9, 2017 |
STONERIDGE INC ExhibitEX-99.1 2 v472708_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 J.P. Morgan Auto Conference Investor Presentation August 9,…To view the full exhibit click here
About STONERIDGE, INC. (NYSE:SRI)
Stoneridge, Inc. is a designer and manufacturer of engineered electrical and electronic components, modules and systems for the automotive, commercial, motorcycle, off-highway and agricultural vehicle markets. The Company operates through three segments: Control Devices, Electronics and PST. The Company’s Control Devices segment designs and manufactures products that monitor, measure or activate specific functions within a vehicle and includes product lines, such as sensors, switches, valves, and actuators. The Company’s Electronics segment designs and manufactures electronic instrument clusters, electronic control units and driver information systems. The PST segment is engaged in the design, manufacture and sale of in-vehicle audio and video devices, electronic vehicle security alarms, convenience accessories, vehicle tracking devices and monitoring services primarily for the automotive and motorcycle industry. It operates in approximately 30 locations in over 10 countries.