GRAND RAPIDS, Mich., Oct 18 (Reuters) - Auto parts supplier Tower Automotive Inc. on Friday said it swung to a profit in the latest quarter as sales rose in the strong North American vehicle market.
The Grand Rapids, Michigan-based company said its net income in the third quarter was $10 million, or 15 cents per share, compared with a net loss of $1 million, or 3 cents a share, a year ago.
Analysts on average had expected a profit of 16 cents a share, according to Thomson First Call.
Revenue rose to $654 million from $558 million.
Shares of Tower closed Thursday at $6.75 on the New York Stock Exchange. The stock is down 28 percent for the year to date.