Standard Motor Products: Q1 Earnings Snapshot

LONG ISLAND CITY, N.Y. (AP) — LONG ISLAND CITY, N.Y. (AP) — Standard Motor Products Inc. (SMP) on Wednesday reported first-quarter net income of $11.9 million.

The Long Island City, New York-based company said it had profit of 54 cents per share. Earnings, adjusted to account for discontinued operations and restructuring costs, came to 61 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The auto parts maker posted revenue of $328 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $328.6 million.