BLOOMFIELD HILLS, Mich.—Diversified manufacturer TriMas Corp. on Wednesday backed a full-year profit prediction ahead of current Wall Street predictions.
The reiterated guidance came at the same time the company announced a first-quarter profit that met average analysts' predictions.
TriMas said it expects to post a 2008 profit from continuing operations of $28.5 million to $31.9 million, or 85 cents to 95 cents per share.
Analysts polled by Thomson Financial expected a profit of 82 cents per share for the year.
TriMas shares rose 23 cents, or 3.5 percent, to $6.85 in afternoon trading.
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