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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Sensata Technologies (ST) (NYSE:ST) is a global manufacturer of customized sensors and controls for improved safety and energy efficiency, such as braking system in cars and air ventilation in air conditioning units. It currently manufactures 800 million devices per year, with 85% of production in low cost countries such as China, Mexico, and Malaysia. Some of its largest customers include Honda, Ford, Samsung, and others. [1]
Due to the financial crisis, the company's customers have a difficult time forecasting its future business activities. Accordingly, the company depends on these customers orders, and the revenues fell 20% in 2009. [1]
The company's initial public offering of stock was filed on 25 November 2009 and traded on the NYSE exchange on 10 March 2010. The proposed offer price range was $18-$20 and traded on the low end at $18. The company offered 31.6 million shares and raised $569 million. [1]
In 2009, the company had $1.134 billion in net revenue, down 20% from the previous year $1.422 billion in net revenue. It reported a net loss of $27.68 million, an increase from the previous year net loss of $134.53 million. The company has a global revenue mix, with 45% of its revenue from the Americas, 27% from Europe, and 27% from Asia for FY2009. [1]
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