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What: Shares of TriMas (Nasdaq: TRS ) jumped today by as much as 21% after the company reported strong earnings and boosted full-year guidance.
So what: The company reported record second0quarter sales of $338.4 million, with adjusted earnings per share of $0.61. The figures beat expectations, and CEO David Wathen cited recent strategic initiatives that helped boost figures despite the tough macro environment.
Now what: TriMas also said it will acquire CIFAL Industrial Comercial, maker of specialty fasteners and stud bolts, to broaden its offerings and add to other recent acquisitions. The company raised its full-year outlook as well, now expecting top-line revenue in 2012 to increase between 10% and 14% relative to 2011 results. That's up from its prior forecast of a gain of just 7% to 10%, while the midpoint of its upwardly revised profit forecast also came out ahead of consensus estimates.
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