Standard Motor Products Announces Third Quarter 2008 Results - aftermarketNews

Standard Motor Products Announces Third Quarter 2008 Results

Consolidated net sales for the third quarter of 2008 were $202.9 million, compared to consolidated net sales of $206.2 million during the comparable quarter in 2007.

NEW YORK — Standard Motor Products (SMP) has reported its consolidated financial results for the third quarter ended Sept. 30.

Consolidated net sales for the third quarter of 2008 were $202.9 million, compared to consolidated net sales of $206.2 million during the comparable quarter in 2007.

Earnings from continuing operations for the third quarter of 2008 were $397 thousand or 2 cents per diluted share, compared to earnings of $4.8 million or 26 cents per diluted share in the third quarter of 2007.

Excluding restructuring expenses for previously announced facility moves, a deferred gain from the sale and leaseback of SMP’s corporate facilities in Long Island City, New York, and a gain from the repurchase of $20.6 million of debentures, earnings from continuing operations for the third quarter of 2008 were $499 thousand or 3 cents per diluted share, compared to earnings in the comparable quarter in 2007 of $5.6 million or 30 cents per diluted share.

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