Amerigon Inc. (ARGN), a developer of thermoelectric (TE) technologies, was a Zacks #1 Rank Top Performer for Friday with shares that advanced approximately 7.6%.

At more than 231,000 shares, volume for ARGN is exceeded the daily average at nearly 130,000.

In late October, the company announced third-quarter results that included EPS above the Zacks Consensus Estimate, sending earnings estimates higher at the time.

Amerigon develops products based on its advanced, proprietary, efficient thermoelectric (TE) technologies for a wide range of global markets and heating and cooling applications. Its principal product is the proprietary Climate Control Seat® (CCS®) system, a solid-state, TE-based system that permits drivers and passengers of vehicles to individually and actively control the heating and cooling of their respective seats.

It is part of the Auto/Truck-Orig industry. There is only 1 other company from this space on today’s Zacks #1 Rank List: Fuel Systems Solutions, Inc. (FSYS).

Earnings Estimates for Amerigon

Earnings estimates have been steady over the past month for Amerigon. However, they remain well above levels from 2 months ago.

The Zacks Consensus Estimate for this year is at 1-cent per share, marking a move to profitability for the guidance as it was expecting a nickel loss 60 days ago.

Meanwhile, the Zacks Consensus Estimate for next year suggests a sharp year-over-year profit growth to 18 cents per share, which is up a nickel, or more than 38%, from 2 months ago.

Third Quarter

In late October, Amerigon announced third-quarter earnings per share of 5 cents, which bettered the Zacks Consensus Estimate of a penny by as much as 400%. It also beat the year-ago result of 3 cents.

In the past 4 quarters, ARGN has beaten twice, matched once and missed once.

ARGN also reported that product revenues reached $18.4 million, or 11% better than the year-ago performance. It also beat the previous quarter’s result. The increase in revenues was attributed to higher sales from new introductions of vehicles offering the CCS systems and the addition of a rear seat option on certain existing vehicles.

“While automotive production levels are not back to 2007 levels, we are seeing improvement and potential strengthening in the automotive industry,” said Amerigon President/CEO Daniel R. Coker.

“This coupled with the expected launch of CCS systems in additional vehicles in the coming months, leads us to believe we can return to overall growth for 2010,” he continued.

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