Stoneridge, Inc. (SRI) designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, medium and heavy-duty truck as well as agricultural vehicle markets.

In third quarter, net sales increased $5.6 million, or 3.2%, to $178.4 million, compared with $172.8 million for the third quarter of 2007. The increase in net sales was primarily attributable to new electronics programs sales in North America, improvement in the company's European electronics business and the impact of foreign currency translation.

The sales increase was partially offset by rapid deterioration in the North American passenger car and light truck markets. Net loss for the third quarter was $0.4 million, or $(0.02) per diluted share, compared with net income of $2.6 million, or $0.11 per diluted share, in the third quarter of 2007.

Stoneridge is aggressively cutting costs and benefiting from the growth of the commercial vehicle market. Increased use of electronics in

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Stoneridge, Inc. (SRI) designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, medium and heavy-duty truck as well as agricultural vehicle markets. The company's primary products include power distribution components and systems, electrical switches and sensors, and other modular assemblies.Stoneridge is aggressively cutting costs and benefiting from the growth of the commercial vehicle market. Increased use of electronics in vehicles is also benefiting the company. However, a squeeze between raw materials and prices, along with weak vehicle demand, force us to rate the shares a Hold with a target price of $8.50.Read the full analyst report on SRI "SRI" Free Stock Analysis: Buy? Sell? Hold?Zacks Investment Research