Noble International up 83% on strong earnings
Shares of Noble International Ltd. (Nasdaq:NOBL) are up 83% after the company announced after-hours Wednesday that its second quarter net earnings and revenue were up significantly over the prior year period. For the quarter ended June 30, the Troy, Mich.-based automotive parts supplier posted earnings of $9 million, or $0.35 per share, on revenue of $314.9 million. This compared with earnings of $1.8 million, or $0.13 per share, on revenue of $182.7 million in the prior year quarter. Analysts were expecting a loss of $0.5 per share.
At 10:48 a.m. ET, shares were at $5.84, up $2.65 from Wednesday’s close, after having reached as high as $6.34 in the day. Shares have traded between $2.96 and $22.74 in the past year.
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