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HOWLAND -- Stoneridge, a maker of wiring harnesses and other electrical equipment for cars, trucks and off-road vehicles, reported lower earnings and sales in the third quarter. The Howland-based company said it has continued to receive fewer orders throughout this year.
Earnings last quarter were $3.2 million, 14 cents a share, compared with $4.2 million, or 19 cents a share, for the same quarter a year ago. Sales last quarter were $140.8 million, compared with $158.4 million in the third quarter of 2002.
Cloyd Abruzzo, Stoneridge president and chief executive, said the company has been working on reducing costs to position itself for improved performance when its markets recover. The company employs about 5,000 but nearly all of them are outside the Mahoning Valley.
The company said it expects to earn between 92 cents and 94 cents a share this year.
Loan seminar to targetsmall-business owners
WARREN -- The Cleveland office of the U.S. Small Business Administration will conduct a free SBA loan seminar for small-business owners and entrepreneurs interested in starting a small business. The event is set for 10 a.m. to noon Nov. 6 at the Warren Community Development office, 418 S. Main St., Warren. Seating is limited. For reservations, call Pat Veisz at (330) 746-3350.
Vindicator staff and wire reports