Sensata reports first-quarter results

Sensata Technologies has announced the results of its operations for the first quarter of 2010, reporting net revenue of $377m (£245m), which is an increase of 57.8 per cent from the same quarter in 2009.

First-quarter 2010 Adjusted Net Income was $69.2m – or $0.44 per diluted share – which is 18.3 per cent of net revenue, compared with the first quarter 2009 Adjusted Net Income of $5.7 million – or $0.04 per diluted share – which is 2.4 per cent of net revenue.

Net income was $27.3m, or $0.17 per diluted share, versus a net loss of $10.2m, or ($0.07) per diluted share, for the same period in 2009.

Quarter-ending cash balance was $508.2m, compared with the fourth-quarter 2009 ending cash balance of $148.5m.