(13) Investments

PST Eletrônica Ltda.

The Company has a 74% controlling interest in PST, a Brazilian electronic system provider focused on security convenience and infotainment devices and services primarily for the South American vehicle and motorcycle industry, and as such has been a consolidated subsidiary of the Company as of and for the three months ended March 31, 2012.

Prior to the acquisition of the controlling interest on December 31, 2011, PST was an unconsolidated joint venture accounted for under the equity method of accounting. As of December 31, 2011, PST became a consolidated subsidiary of the Company. See Note 3.

Condensed financial information of PST for the three months ended March 31, 2011 is as follows:

Net sales	$	53,238
Cost of goods sold	$	28,609

Total income before income taxes	$	3,932
The Company's share of income before income taxes	$	1,966

Equity in earnings of PST included in the Company’s condensed consolidated statements of operations was $1,509 for the three months ended March 31, 2011.

Minda Stoneridge Instruments Ltd.

The Minda Stoneridge Instruments Ltd. (“Minda”) joint venture at March 31, 2012 is an unconsolidated joint venture and is accounted for under the equity method of accounting. The Company has a 49% interest in Minda, a company based in India that manufactures electronics, instrumentation equipment and sensors primarily 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 $6,801 and $6,391 at March 31, 2012 and December 31, 2011, respectively. Equity in earnings of Minda included in the condensed consolidated statements of operations was $139 and $407, for the three months ended March 31, 2012 and 2011, respectively.