— Jose, a U.S. company that makes sheet metal roller blades, has announced its second-quarter results and said it’s seeing growth in the automotive and home markets.
The company’s share price rose 5% in after-hours trading.
Jose, based in North Dakota, said it expects to report adjusted earnings per share of $1.65 a share in the first quarter of 2018, up from $1 per share in first-quarter 2019.
That compares with $1 a share a year ago.
The increase in adjusted earnings reflects the company’s focus on building out its business to include more customers and improving its technology.
It expects to continue to drive a better-performing product through 2018.
Jose said its growth is primarily driven by the growth in automotive sales, which increased from 5% to 11% in the second half of 2018.
It also reported that it’s growing its revenue from $20 million to $25 million in 2018, with its overall revenue forecast to increase to $50 million.
The automotive market has been a key driver of Jose’s business.
Jous, which also makes metal roller products for the car industry, is in the process of selling its business in the U.K. and China.
The company’s sales and profits were $6.2 billion in the third quarter, up 2% from a year earlier.
Joses revenue rose 9% in 2018.
Jos, which sells sheet metal to carmakers and other manufacturers, has been one of the most successful companies in the industry in the last decade.
It has sold more than 7 billion sheets of its products worldwide.
It was the largest supplier of sheet metal in the United States for the first time in 2021.
Joses revenue increased to $9.3 billion in 2018 from $9 billion a year prior.
JOSE said its net income was $2.5 billion, which was a 9% increase from $2 billion a full year ago, largely due to higher operating income.JOSE is currently under investigation by the Securities and Exchange Commission.
It did not immediately respond to a request for comment.