Tower International, Inc. Q1 Income Retreats 40%

(RTTNews) - Tower International, Inc. (TOWR) released earnings for first quarter that decreased compared to the same period last year.

The company said its earnings came in at $8.37 million, or $0.63 per share. This was down from $14.04 million, or $0.82 per share, in last year's first quarter.

Analysts had expected the company to earn $0.56 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 3.0% to $511.49 million. This was up from $496.63 million last year.

Tower International, Inc. earnings at a glance:

-Earnings (Q1): $8.37 Mln. vs. $14.04 Mln. last year. -Earnings Decline (Y-o-Y): -40.4% -EPS (Q1): $0.63 vs. $0.82 last year. -EPS Decline (Y-o-Y): -23.2% -Analysts Estimate: $0.56 -Revenue (Q1): $511.49 Mln vs. $496.63 Mln last year. -Revenue Change (Y-o-Y): 3.0%