Stoneridge, Inc. Financial Report

Stoneridge Inc.today announced sales of $140.0 million and earnings of $0.2 million, or $0.01 per share, for the fourth quarter ended December 31, 2001.

Net sales decreased $6.4 million, or 4.4 percent, to $140.0 million compared with $146.4 million for the same period in 2000. Net income for the fourth quarter was $0.2 million, or $0.01 per share, compared with net income of $1.1 million, or $0.05 per share, for the quarter ended December 31, 2000.

``Reduced fourth-quarter production volume in the automotive and commercial vehicle markets is the primary reason for lower quarterly earnings,'' said Cloyd J. Abruzzo, president and chief executive officer. ``In anticipation of lower 2002 vehicle production volumes, the Company has made significant adjustments to its cost structure. We enter 2002 optimistic that these changes will result in improved operating performance for the year.''

For the year ended December 31, 2001, net sales were $584.5 million, a decrease of 12.4 percent, compared with $667.2 million in fiscal 2000. Net income for the year ended December 31, 2001 was $2.9 million, or $0.13 per share, compared with net income of $32.7 million, or $1.46 per share, for the same period in 2000.

Conference Call on the Web

A live Internet broadcast of Stoneridge's conference call regarding 2001 fourth-quarter results can be accessed at 11 a.m. Eastern Time on January 23, 2002, at www.stoneridge.com or www.vcall.com, both of which will offer a webcast replay.

About Stoneridge, Inc.

Stoneridge, Inc., headquartered in Warren, Ohio, is a leading independent designer and manufacturer of highly engineered electrical and electronic components, modules and systems principally for the automotive, medium and heavy-duty truck, agricultural and off-road vehicle markets. Additional information about Stoneridge can be found on the World Wide Web at www.stoneridge.com .

Forward-Looking Statements

Statements in this release that are not historical fact are forward- looking statements, which involve risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied in this release. Factors that may cause actual results to differ materially from those in the forward-looking statements include, among other factors, the loss of a major customer, a decline in automotive, medium and heavy-duty truck or agricultural vehicle production, the failure to achieve successful integration of any acquired company or business, labor disputes involving the Company or its significant customers, risks associated with conducting business in foreign countries, or a decline in general economic conditions. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. Stoneridge does not undertake any obligation to publicly update or revise any forward- looking statements to reflect future events, information or circumstances that arise after the date of this release. Further information concerning issues that could materially affect financial performance related to forward-looking statements can be found in Stoneridge's periodic filings with the Securities and Exchange Commission.

                               Stoneridge, Inc.
                        Consolidated Operating Results
                    (In thousands, except per share data)

                                  Three Months Ended     Twelve Months Ended
                                      December 31            December 31
                                   2001        2000        2001        2000

    Net Sales                    $140,007     $146,448   $584,468    $667,192
    Operating Income                8,350        7,922     35,495      75,166
    (Loss) Earnings Before Taxes     (213)         540      3,896      46,794
    (Benefit) Provision
      for Income Taxes               (375)        (525)       950      14,085
    Net Income                        162        1,065      2,946      32,709
    Basic & Diluted Earnings
      Per Share                     $0.01        $0.05      $0.13       $1.46
    Weighted Average Shares
      Outstanding                  22,397       22,397     22,467      22,397


                    Condensed Consolidated Balance Sheet Items
                                  (In thousands)

                                               December 31,   December 31,
                                                   2001          2000

    Current Assets                                $172,745    $194,754
    Property, Plant and Equipment                  118,061     113,855
    Total Assets                                   666,843     696,995
    Current Liabilities                            126,346     114,685
    Non-Current Portion of Term Debt               249,720     296,079
    Total Liabilities                              407,236     434,809
    Shareholders' Equity                           259,607     262,186