Tower International, which supplies structural metal components and assemblies to automakers, said today it posted third-quarter net income of $3.3 million.
That's compared with a net loss of $4 million during the same quarter last year.
Revenue rose 1 percent to $495 million, up from $492 million a year earlier.
The company also said it was hiking its 2013 profit forecast by 35 cents a share, to $2.25, in part because of interest savings from a refinancing effort in the quarter and earnings that were more global.
"We can also now look forward to some meaningful favorable tail-winds in 2014, with the already accomplished re-financing actions boosting next year's adjusted earnings per share by about 45 cents and free cash flow by about $15 million, compared with the partial-year savings achieved in 2013," CEO Mark Malcolm said in a statement.
Tower beat Wall Street forecasts with adjusted earnings before interest and other expenses of $48.4 million, up 8 percent from last year and above analysts' projected figure of $47.8 million.
The company ranks No. 85 on the Automotive News list of the top 100 global suppliers with worldwide sales to automakers of $2.1 billion in 2012.