Sensata profit plummets

SENSATA Technologies Holding N.V. net income plummeted to $6.5 million in 2011 from $130.1 million a year earlier. / SENSATA TECHNOLOGIES/PR NEWSWIRE
SENSATA Technologies Holding N.V. net income plummeted to $6.5 million in 2011 from $130.1 million a year earlier. / SENSATA TECHNOLOGIES/PR NEWSWIRE

ATTLEBORO – Sensata Technologies Holding N.V. net income plummeted to $6.5 million in 2011 from $130.1 million a year earlier.

The company, which has its U.S. headquarters in Attleboro, reported earnings per diluted share of 4 cents, down from 75 cents. Net revenue, however, increased 18.6 percent to $1.83 billion in 2011.

For the fourth quarter, the manufacturer of sensors and controls said net income was $24.4 million, or 13 cents per diluted share, down from $68.8 million, or 38 cents per diluted share in the same 2010 period. Net revenue increased 16.9 percent to $453.4 million.

“The fourth quarter was a challenging quarter given the continued volatility and uncertainty in the macro-economic environment. However, we are pleased that we were able to close the quarter slightly ahead of our revised estimate,” said Tom Wroe, chairman and CEO.

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“While certainly not immune from macro-economic forces, we continue to be confident in our growth strategy and the pillars of our long-term financial model,” he said.

Sensata had an ending cash balance of $92.1 million on Dec. 31, while its total indebtedness was $1.84 billion.

Looking at its two segments, sensors net revenue was $340 million the fourth quarter, up 34.5 percent from the same quarter in 2010. Controls net revenue, on the other hand, decreased 16.1 percent to $113.3 million.