(15) Investments

Both of the Company’s joint ventures at September 30, 2011 were determined to be unconsolidated joint ventures and were accounted for under the equity method of accounting.

PST Eletrônica S.A.

The Company has a 50% equity interest in PST, a Brazilian electronic system provider focused on security, infotainment and convenience applications primarily for the automotive and motorcycle industry. The Company’s investment in PST, recorded as a component of investments and other long-term assets, net on the condensed consolidated balance sheets, was $43,708 and $41,178 at September 30, 2011 and December 31, 2010, respectively.

Condensed financial information for PST is as follows:

	Three months ended				Nine months ended
	September 30,				September 30,
	2011		2010		2011		2010

Net sales	$	65,638	$	49,520	$	181,854	$	123,642
Cost of goods sold	$	37,965	$	24,695	$	103,466	$	63,861
Total pre-tax income	$	2,245	$	8,965	$	10,175	$	13,588
The Company's share of pre-tax income	$	1,123	$	4,483	$	5,087	$	6,794

Equity in earnings of PST included in the condensed consolidated statements of operations was $964 and $3,712 for the three months ended September 30, 2011 and 2010, respectively. For the nine months ended September 30, 2011 and 2010, equity in earnings of PST was $4,068 and $5,544, respectively.

Minda Stoneridge Instruments Ltd.

The Company has a 49% interest in Minda Stoneridge Instruments Ltd. (“Minda”), a company based in India that manufactures electronics and instrumentation equipment for the motorcycle and commercial vehicle market. The Company’s investment in Minda recorded as a component of investments and other long-term assets, net on the condensed consolidated balance sheets, was $6,687 and $6,287 at September 30, 2011 and December 31, 2010, respectively. Equity in earnings of Minda included in the condensed consolidated statements of operations was $389 and $172, for the three months ended September 30, 2011 and 2010, respectively. For the nine months ended September 30, 2011 and 2010, equity in earnings of Minda was $1,009 and $642, respectively.