*Table      of Contents*

**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      DC 20549**

**FORM      10-Q**

| þ | **QUARTERLY                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934** |
|--------|------------------------------------------------------------------------------------------------------------------------------------------|

**For      the quarter ended March 31, 2008**

**OR**

| o | **TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934** |
|---|-------------------------------------------------------------------------------------------------------------------------------------------|

**For      the transition period from________to ________**

**Commission      file number: 001**
**13337**

**STONERIDGE,      INC.**

*(Exact      name of registrant as specified in its charter)*

|   | **Ohio**                                                                                        |   | **34-1598949**                                                     |   |
|--------|-------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------|--------|
|   | *(State                or other jurisdiction of**incorporation                or organization)* |   | *(IRS                Employer**Identification                No.)* |   |

|   | **9400                East Market Street, Warren, Ohio**  |   | **44484**                   |   |
|--------|-----------------------------------------------------------|--------|-----------------------------|--------|
|   | *(Address                of principal executive offices)* |   | *(Zip                Code)* |   |

**(330)      856-2443 **

----

| Large accelerated filer ࿠ | Accelerated filer þ | Non-accelerated filer                ࿠                                | Smaller reporting company ࿠ |
|------------------------------------------------|------------------------------------|----------------------------------------------------------------------------------|--------------------------------------------------|
|                                           |                               | (Do not check if a smaller reporting company) |                                             |

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*Table          of Contents*

**STONERIDGE,      INC. AND      SUBSIDIARIES**

**INDEX**

|                                                  |                                                                                                                                                                  | **Page                No.** |
|-------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------|
| **PART                I–FINANCIAL INFORMATION** |                                                                                                                                                                  |
|                                                  |                                                                                                                                                                  |                        |
| Item                1.                                | Financial                Statements                                                                                                                                   |                        |
|                                                  | Condensed                Consolidated Balance Sheets as of March 31, 2008                (Unaudited) and December 31, 2007 (Audited)                                  | 2                           |
|                                                  | Condensed                Consolidated Statements of Operations (Unaudited)                For the Three Months Ended March 31, 2008 and                March 31, 2007 | 3                           |
|                                                  | Condensed                Consolidated Statements of Cash Flows (Unaudited)                For the Three Months Ended March 31, 2008 and March 31,                2007 | 4                           |
|                                                  | Notes                to Condensed Consolidated Financial Statements                (Unaudited)                                                                        | 5                           |
| Item                2.                                | Management's                Discussion and Analysis of Financial Condition                and Results of Operations                                                   | 20                          |
| Item                3.                                | Quantitative                and Qualitative Disclosures About Market                Risk                                                                              | 26                          |
| Item                4.                                | Controls                and Procedures                                                                                                                                | 27                          |
|                                                  |                                                                                                                                                                  |                        |
| **PART                II–OTHER INFORMATION**    |                                                                                                                                                                  |
|                                                  |                                                                                                                                                                  |                        |
| Item                1.                                | Legal                Proceedings                                                                                                                                      | 28                          |
| Item                1A.                               | Risk                Factors                                                                                                                                           | 28                          |
| Item                2.                                | Unregistered                Sales of Equity Securities and Use                of Proceeds                                                                             | 28                          |
| Item                3.                                | Defaults                Upon Senior Securities                                                                                                                        | 28                          |
| Item                4.                                | Submission                of Matters to a Vote of Security                Holders                                                                                     | 28                          |
| Item                5.                                | Other                Information                                                                                                                                      | 28                          |
| Item                6.                                | Exhibits                                                                                                                                                              | 28                          |
|                                                  |                                                                                                                                                                  |                        |
| Signatures                                            | 29                                                                                                                                                                    |
| Index                to Exhibits                      | 30                                                                                                                                                                    |
|                                                  |                                                                                                                                                                  |
| EX-31.1                                               |                                                                                                                                                                  |
| EX-31.2                                               |                                                                                                                                                                  |
| EX-32.1                                               |                                                                                                                                                                  |
| EX-32.2                                               |                                                                                                                                                                  |

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*Table          of Contents*

**Item      1. Financial Statements.**

**STONERIDGE,      INC. AND SUBSIDIARIES**

**CONDENSED      CONSOLIDATED BALANCE SHEETS**

**(in      thousands)**

|                                                                                                                                                                                                                                                |   | **March                31,****2008** |    | **December ****31,****2007** |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------|---------|-----------------------------------|--------|
| ASSETS                                                                                                                                                                                                                                              |   | **(Unaudited)**                      |    | **(Audited)**                     |   |
|                                                                                                                                                                                                                                                |   |                                 |    |                              |   |
| Current                Assets:                                                                                                                                                                                                                      |   |                                 |    |                              |   |
| Cash                and cash equivalents                                                                                                                                                                                                            |   | $                                    | 88,273  |                              | $      | 95,924 |   |
| Accounts                receivable, less reserves of $5,495 and $4,736,                respectively                                                                                                                                                 |   |                                 | 136,983 |                              |   | 122,288 |   |
| Inventories,                net                                                                                                                                                                                                                     |   |                                 | 66,591  |                              |   | 57,392 |   |
| Prepaid                expenses and other                                                                                                                                                                                                           |   |                                 | 19,662  |                              |   | 15,926 |   |
| Deferred                income taxes                                                                                                                                                                                                                |   |                                 | 10,188  |                              |   | 9,829 |   |
| Total                current assets                                                                                                                                                                                                                 |   |                                 | 321,697 |                              |   | 301,359 |   |
|                                                                                                                                                                                                                                                |   |                                 |    |                              |   |   |   |
| Long-Term                Assets:                                                                                                                                                                                                                    |   |                                 |    |                              |   |   |   |
| Property,                plant and equipment, net                                                                                                                                                                                                   |   |                                 | 91,853  |                              |   | 92,752 |   |
| Other                Assets:                                                                                                                                                                                                                        |   |                                 |    |                              |   |   |   |
| Goodwill                                                                                                                                                                                                                                            |   |                                 | 65,720  |                              |   | 65,176 |   |
| Investments                and other, net                                                                                                                                                                                                           |   |                                 | 43,173  |                              |   | 39,454 |   |
| Deferred                income taxes                                                                                                                                                                                                                |   |                                 | 24,618  |                              |   | 29,028 |   |
| Total                long-term assets                                                                                                                                                                                                               |   |                                 | 225,364 |                              |   | 226,410 |   |
| Total                Assets                                                                                                                                                                                                                         |   | $                                    | 547,061 |                              | $      | 527,769 |   |
|                                                                                                                                                                                                                                                |   |                                 |    |                              |   |   |   |
| LIABILITIES                AND SHAREHOLDERS’ EQUITY                                                                                                                                                                                           |   |                                 |    |                              |   |   |   |
|                                                                                                                                                                                                                                                |   |                                 |    |                              |   |   |   |
| Current                Liabilities:                                                                                                                                                                                                                 |   |                                 |    |                              |   |   |   |
| Accounts                payable                                                                                                                                                                                                                     |   | $                                    | 76,581  |                              | $      | 69,373 |   |
| Accrued                expenses and other                                                                                                                                                                                                           |   |                                 | 58,023  |                              |   | 47,198 |   |
| Total                current liabilities                                                                                                                                                                                                            |   |                                 | 134,604 |                              |   | 116,571 |   |
|                                                                                                                                                                                                                                                |   |                                 |    |                              |   |   |   |
| Long-Term                Liabilities:                                                                                                                                                                                                               |   |                                 |    |                              |   |   |   |
| Long-term                debt                                                                                                                                                                                                                       |   |                                 | 189,000 |                              |   | 200,000 |   |
| Deferred                income taxes                                                                                                                                                                                                                |   |                                 | 2,951   |                              |   | 2,665 |   |
| Other                liabilities                                                                                                                                                                                                                    |   |                                 | 2,363   |                              |   | 2,344 |   |
| Total                long-term liabilities                                                                                                                                                                                                          |   |                                 | 194,314 |                              |   | 205,009 |   |
|                                                                                                                                                                                                                                                |   |                                 |    |                              |   |   |   |
| Shareholders'                Equity:                                                                                                                                                                                                                |   |                                 |    |                              |   |   |   |
| Preferred                Shares, without par value, authorized 5,000 shares, none                issued                                                                                                                                             |   |                                 | -       |                              |   | - |   |
| Common                Shares, without par value, authorized 60,000 shares, issued 24,687                and                24,601 shares and outstanding 24,668 and 24,209 shares, respectively,                with                no stated value |   |                                 | -       |                              |   | - |   |
| Additional                paid-in capital                                                                                                                                                                                                           |   |                                 | 154,898 |                              |   | 154,173 |   |
| Common                Shares held in treasury, 19 and 373 shares, respectively, at                cost                                                                                                                                              |   |                                 | (9      | )                                 |   | (383 | ) |
| Retained                earnings                                                                                                                                                                                                                    |   |                                 | 44,919  |                              |   | 38,372 |   |
| Accumulated                other comprehensive income                                                                                                                                                                                               |   |                                 | 18,335  |                              |   | 14,027 |   |
| Total                shareholders’ equity                                                                                                                                                                                                     |   |                                 | 218,143 |                              |   | 206,189 |   |
| Total                Liabilities and Shareholders' Equity                                                                                                                                                                                           |   | $                                    | 547,061 |                              | $      | 527,769 |   |

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*Table          of Contents*

**STONERIDGE,      INC. AND SUBSIDIARIES**

**CONDENSED      CONSOLIDATED STATEMENTS OF      OPERATIONS**

**(Unaudited)**

**(in      thousands, except per share data)**

|                                                       |   | **Three                Months Ended****March                31,** |    |
|------------------------------------------------------------|--------|-------------------------------------------------------------------|---------|
|                                                       |   | **2008**                                                          |    | **2007** |   |
|                                                       |   |                                                              |    |   |   |
| Net                Sales                                   |   | $                                                                 | 203,070 |   | $ | 185,028 |   |
|                                                       |   |                                                              |    |   |   |   |   |
| Costs                and Expenses:                         |   |                                                              |    |   |   |   |   |
| Cost                of goods sold                          |   |                                                              | 151,253 |   |   | 142,181 |   |
| Selling,                general and administrative         |   |                                                              | 36,282  |   |   | 33,097 |   |
| Restructuring                charges                       |   |                                                              | 1,422   |   |   | 41 |   |
|                                                       |   |                                                              |    |   |   |   |   |
| Operating                Income                            |   |                                                              | 14,113  |   |   | 9,709 |   |
|                                                       |   |                                                              |    |   |   |   |   |
| Interest                expense, net                       |   |                                                              | 5,372   |   |   | 5,484 |   |
| Equity                in earnings of investees             |   |                                                              | (3,819  | ) |   | (2,120 | ) |
| Loss                on early extinguishment of debt        |   |                                                              | 499     |   |   | - |   |
| Other                loss, net                             |   |                                                              | 402     |   |   | 288 |   |
|                                                       |   |                                                              |    |   |   |   |   |
| Income                Before Income Taxes                  |   |                                                              | 11,659  |   |   | 6,057 |   |
|                                                       |   |                                                              |    |   |   |   |   |
| Provision                for income taxes                  |   |                                                              | 5,112   |   |   | 1,187 |   |
|                                                       |   |                                                              |    |   |   |   |   |
| Net                Income                                  |   | $                                                                 | 6,547   |   | $ | 4,870 |   |
|                                                       |   |                                                              |    |   |   |   |   |
| Basic                net income per share                  |   | $                                                                 | 0.28    |   | $ | 0.21 |   |
| Basic                weighted average shares outstanding   |   |                                                              | 23,286  |   |   | 22,990 |   |
|                                                       |   |                                                              |    |   |   |   |   |
| Diluted                net income per share                |   | $                                                                 | 0.28    |   | $ | 0.21 |   |
| Diluted                weighted average shares outstanding |   |                                                              | 23,647  |   |   | 23,403 |   |

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*Table          of Contents*

**STONERIDGE,      INC. AND SUBSIDIARIES**

**CONDENSED      CONSOLIDATED STATEMENTS OF CASH      FLOWS**

**(Unaudited)**

**(in      thousands)**

|                                                                                                                        |   | **Three                Months Ended****March                31,** |    |
|-----------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------|---------|
|                                                                                                                        |   | **2008**                                                          |    | **2007** |   |
| OPERATING                ACTIVITIES:                                                                                        |   |                                                              |    |   |   |
| Net                income                                                                                                   |   | $                                                                 | 6,547   |   | $ | 4,870 |   |
| Adjustments                to reconcile net income to net cash provided by (used for) operating                activities - |   |                                                              |    |   |   |   |   |
| Depreciation                                                                                                                |   |                                                              | 7,287   |   |   | 7,165 |   |
| Amortization                                                                                                                |   |                                                              | 433     |   |   | 398 |   |
| Deferred                income taxes                                                                                        |   |                                                              | 3,656   |   |   | 434 |   |
| Equity                in earnings of investees                                                                              |   |                                                              | (3,819  | ) |   | (2,120 | ) |
| Gain                on sale of property, plant and equipment                                                                |   |                                                              | (8      | ) |   | (35 | ) |
| Share-based                compensation expense                                                                             |   |                                                              | 1,081   |   |   | 587 |   |
| Changes                in operating assets and liabilities -                                                                |   |                                                              |    |   |   |   |   |
| Accounts                receivable, net                                                                                     |   |                                                              | (12,189 | ) |   | (13,325 | ) |
| Inventories,                net                                                                                             |   |                                                              | (8,103  | ) |   | (1,748 | ) |
| Prepaid                expenses and other                                                                                   |   |                                                              | (2,560  | ) |   | (2,462 | ) |
| Other                assets                                                                                                 |   |                                                              | 23      |   |   | 324 |   |
| Accounts                payable                                                                                             |   |                                                              | 5,690   |   |   | (5,544 | ) |
| Accrued                expenses and other                                                                                   |   |                                                              | 10,585  |   |   | 6,400 |   |
| Net                cash provided by (used for) operating activities                                                         |   |                                                              | 8,623   |   |   | (5,056 | ) |
|                                                                                                                        |   |                                                              |    |   |   |   |   |
| INVESTING                ACTIVITIES:                                                                                        |   |                                                              |    |   |   |   |   |
| Capital                expenditures                                                                                         |   |                                                              | (5,513  | ) |   | (6,807 | ) |
| Proceeds                from sale of property, plant and equipment                                                          |   |                                                              | 36      |   |   | 35 |   |
| Business                acquisitions and other                                                                              |   |                                                              | (1,061  | ) |   | - |   |
| Net                cash used for investing activities                                                                       |   |                                                              | (6,538  | ) |   | (6,772 | ) |
|                                                                                                                        |   |                                                              |    |   |   |   |   |
| FINANCING                ACTIVITIES:                                                                                        |   |                                                              |    |   |   |   |   |
| Repayments                of long-term debt                                                                                 |   |                                                              | (11,000 | ) |   | - |   |
| Share-based                compensation activity, net                                                                       |   |                                                              | 42      |   |   | 355 |   |
| Premiums                related to early extinguishment of debt                                                             |   |                                                              | (358    | ) |   | - |   |
| Net                cash (used for) provided by financing activities                                                         |   |                                                              | (11,316 | ) |   | 355 |   |
|                                                                                                                        |   |                                                              |    |   |   |   |   |
| Effect                of exchange rate changes on cash and cash equivalents                                                 |   |                                                              | 1,580   |  |   | (142 | ) |
|                                                                                                                        |   |                                                              |    |   |   |   |   |
| Net                change in cash and cash equivalents                                                                      |   |                                                              | (7,651  | ) |   | (11,615 | ) |
|                                                                                                                        |   |                                                              |    |   |   |   |   |
| Cash                and cash equivalents at beginning of period                                                             |   |                                                              | 95,924  |   |   | 65,882 |   |
|                                                                                                                        |   |                                                              |    |   |   |   |   |
| Cash                and cash equivalents at end of period                                                                   |   | $                                                                 | 88,273  |   | $ | 54,267 |   |

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*Table          of Contents*

**STONERIDGE,      INC. **

**NOTES      TO CONDENSED CONSOLIDATED FINANCIAL      STATEMENTS**

**(Unaudited)**

**(in      thousands, except share and per share data, unless otherwise      indicated)**

**(1)        Basis of Presentation**

**(2)        Inventories**

|                              |   | **March 31,****2008** |   | **December 31,****2007** |   |
|-----------------------------------|--------|----------------------------|--------|-------------------------------|--------|
|                              |   |                       |   |                          |   |
| Raw                materials      |   | $                          | 38,846 |                          | $      | 36,678 |   |
| Work-in-progress                  |   |                       | 10,029 |                          |   | 9,065 |   |
| Finished                goods     |   |                       | 19,956 |                          |   | 13,700 |   |
| Total                inventories  |   |                       | 68,831 |                          |   | 59,443 |   |
| Less:                LIFO reserve |   |                       | (2,240 | )                             |   | (2,051 | ) |
| Inventories,                net   |   | $                          | 66,591 |                          | $      | 57,392 |   |

**(**
**3**
**)      Fair Value of Financial Instruments**

***Financial      Instruments***

***Derivative      Instruments and Hedging Activities***

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*Table          of Contents*

**STONERIDGE,      INC. **

**NOTES      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**(in      thousands, except share and per share data, unless otherwise      indicated)**

***Statement        of Financial Accounting Standard No. 157, Fair Value        Measurements***

*Fair        Value Measurements *
*Effective        Date of FASB Statement No. 157 *

|                                                 |   | **Fair                Value Measurements at March 31, 2008** |   |
|------------------------------------------------------|--------|--------------------------------------------------------------|--------|
| **Assets**                                           |   | **Total**                                                    |   | **Quoted                P****rices****in Active Markets****for Identical Assets****(Level                1)** |   | **Significant Other****Observable****Inputs****(Level                2)** |   | **Significant****Unobservable****Inputs****(Level                3)** |   |
| Available-for-sale                equity investments |   | $                                                            | 288    |   | $ | 288 |   | $ | - |   | $ | - |   |
| Derivatives                                          |   |                                                         | 817    |   |   | - |   |   | 817 |   |   | - |   |
| Total                                                |   | $                                                            | 1,105  |   | $ | 288 |   | $ | 817 |   | $ | - |   |

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*Table          of Contents*

**STONERIDGE,      INC. **

**NOTES      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**(in      thousands, except share and per share data, unless otherwise      indicated)**

**(4**
**)        Share-Based Compensation**

**(5**
**)        Comprehensive Income (Loss)**

*Reporting        Comprehensive Income*

|                                                            |   | **Three Months Ended****March                31,** |   |
|-----------------------------------------------------------------|--------|--------------------------------------------------------------|--------|
|                                                            |   | **2008**                                                     |   | **2007** |   |
|                                                            |   |                                                         |   |   |   |
| Net                income                                       |   | $                                                            | 6,547  |   | $ | 4,870 |   |
| Other                comprehensive income:                      |   |                                                         |   |   |   |   |   |
| Currency                translation adjustments                 |   |                                                         | 3,816  |   |   | 449 |   |
| Pension                and postretirement liability adjustments |   |                                                         | (9     | ) |   | (8 | ) |
| Unrealized                gain (loss) on marketable securities  |   |                                                         | (17    | ) |   | 51 |   |
| Unrecognized                gain on derivatives                 |   |                                                         | 518    |   |   | 472 |   |
| Total                other comprehensive income                 |   |                                                         | 4,308  |   |   | 964 |   |
| Comprehensive                income                             |   | $                                                            | 10,855 |   | $ | 5,834 |   |

|                                                            |   | **March 31,** |   | **December 31,** |   |
|-----------------------------------------------------------------|--------|--------------------|--------|-----------------------|--------|
|                                                            |   | **2008**           |   | **2007**              |   |
|                                                            |   |               |   |                  |   |
| Foreign                currency translation adjustments         |   | $                  | 18,328 |                  | $      | 14,512 |   |
| Pension                and postretirement liability adjustments |   |               | (437   | )                     |   | (428 | ) |
| Unrealized                loss on marketable securities         |   |               | (37    | )                     |   | (20 | ) |
| Unrecognized                gain (loss) on derivatives          |   |               | 481    |                  |   | (37 | ) |
| Accumulated                other comprehensive income           |   | $                  | 18,335 |                  | $      | 14,027 |   |

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*Table          of Contents*

**STONERIDGE,      INC. **

**NOTES      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**(in      thousands, except share and per share data, unless otherwise      indicated)**

**6)      Long-Term Debt**

***Senior      Notes***

***Credit      Facility***

**(7)      Net Income Per Share**

|                                                       |   | **Three Months Ended****March                31,** |       |
|------------------------------------------------------------|--------|--------------------------------------------------------------|------------|
|                                                       |   | **2008**                                                     |       | **2007** |   |
|                                                       |   |                                                         |       |   |   |
| Basic                weighted-average shares outstanding   |   |                                                         | 23,285,848 |   |   | 22,989,615 |   |
| Effect                of dilutive securities               |   |                                                         | 360,828    |   |   | 413,185 |   |
| Diluted                weighted-average shares outstanding |   |                                                         | 23,646,676 |   |   | 23,402,800 |   |

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*Table          of Contents*

**STONERIDGE,      INC. **

**NOTES      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**(in      thousands, except share and per share data, unless otherwise      indicated)**

**(8)        Restructuring**

|                                                   |   | **Severance****Costs** |   | **Contract****Termination****Costs** |   | **Other****Associated****Costs** |   | **Total** |   |
|--------------------------------------------------------|--------|------------------------|--------|--------------------------------------|--------|----------------------------------|--------|-----------|--------|
|                                                   |   |                   |   |                                 |   |                             |   |      |   |
| Total                expected restructuring charges    |   | $                      | 3,454  |                                 | $      | 978                              |   | $         | 5,582  |   | $ | 10,014 |   |
|                                                   |   |                   |   |                                 |   |                             |   |      |   |   |   |   |   |
| Fourth                quarter 2007 charge to expense   |   | $                      | 468    |                                 | $      | -                                |   | $         | 103    |   | $ | 571 |   |
| Cash                payments                           |   |                   | -      |                                 |   | -                                |   |      | (103   | ) |   | (103 | ) |
|                                                   |   |                   |   |                                 |   |                             |   |      |   |   |   |   |   |
| Accrued                balance at December 31, 2007    |   |                   | 468    |                                 |   | -                                |   |      | -      |   |   | 468 |   |
|                                                   |   |                   |   |                                 |   |                             |   |      |   |   |   |   |   |
| First                quarter 2008 charge to expense    |   |                   | 873    |                                 |   | -                                |   |      | 614    |   |   | 1,487 |   |
| Cash                payments                           |   |                   | -      |                                 |   | -                                |   |      | (614   | ) |   | (614 | ) |
|                                                   |   |                   |   |                                 |   |                             |   |      |   |   |   |   |   |
| Accrued                balance at March 31, 2008       |   | $                      | 1,341  |                                 | $      | -                                |   | $         | -      |   | $ | 1,341 |   |
|                                                   |   |                   |   |                                 |   |                             |   |      |   |   |   |   |   |
| Remaining                expected restructuring charge |   | $                      | 2,113  |                                 | $      | 978                              |   | $         | 4,865  |   | $ | 7,956 |   |

|                                                   |   | **Severance****Costs** |   | **Fixed-Asset****Costs** |   | **Other****Associated****Costs** |   | **Total                (A)** |   |
|--------------------------------------------------------|--------|------------------------|--------|--------------------------|--------|----------------------------------|--------|------------------------------|--------|
|                                                   |   |                   |   |                     |   |                             |   |                         |   |
| Total                expected restructuring charges    |   | $                      | 1,851  |                     | $      | 296                              |   | $                            | 4,748  |   | $ | 6,895 |   |
|                                                   |   |                   |   |                     |   |                             |   |                         |   |   |   |   |   |
| Fourth                quarter 2007 charge to expense   |   | $                      | 357    |                     | $      | -                                |   | $                            | 99     |   | $ | 456 |   |
| Cash                payments                           |   |                   | -      |                     |   | -                                |   |                         | -      |   |   | - |   |
|                                                   |   |                   |   |                     |   |                             |   |                         |   |   |   |   |   |
| Accrued                balance at December 31, 2007    |   |                   | 357    |                     |   | -                                |   |                         | 99     |   |   | 456 |   |
|                                                   |   |                   |   |                     |   |                             |   |                         |   |   |   |   |   |
| First                quarter 2008 charge to expense    |   |                   | 365    |                     |   | -                                |   |                         | 668    |   |   | 1,033 |   |
| Cash                payments                           |   |                   | -      |                     |   | -                                |   |                         | (722   | ) |   | (722 | ) |
|                                                   |   |                   |   |                     |   |                             |   |                         |   |   |   |   |   |
| Accrued                balance at March 31, 2008       |   | $                      | 722    |                     | $      | -                                |   | $                            | 45     |   | $ | 767 |   |
|                                                   |   |                   |   |                     |   |                             |   |                         |   |   |   |   |   |
| Remaining                expected restructuring charge |   | $                      | 1,129  |                     | $      | 296                              |   | $                            | 3,981  |   | $ | 5,406 |   |

| (A) | Total                expected restructuring charges does not include the expected gain                from the                future sale of the Company’s Sarasota, Florida,                facility |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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*Table          of Contents*

**STONERIDGE,      INC. **

**NOTES      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**(in      thousands, except share and per share data, unless otherwise      indicated)**

**(9)        Commitments and Contingencies**

***Product        Warranty and Recall***

|                                                                                                   |   | **2008** |   | **2007** |   |
|--------------------------------------------------------------------------------------------------------|--------|----------|--------|----------|--------|
|                                                                                                   |   |     |   |     |   |
| Product                warranty and recall at beginning of period                                      |   | $        | 5,306  |     | $      | 5,825 |   |
| Accruals                for products shipped during period                                             |   |     | 841    |     |   | 557 |   |
| Aggregate                changes in pre-existing liabilities due to claims                developments |   |     | 664    |     |   | 510 |   |
| Settlements                made during the period (in cash or in kind)                                 |   |     | (617   | )        |   | (1,021 | ) |
| Product                warranty and recall at end of period                                            |   | $        | 6,194  |     | $      | 5,871 |   |

**(10)      Employee Benefit Plans**

|                                          |   | **Pension Benefit Plan**                           |   | **Postretirement Benefit Plan**                    |   |
|-----------------------------------------------|--------|--------------------------------------------------------------|--------|--------------------------------------------------------------|--------|
|                                          |   | **Three Months Ended****March                31,** |   | **Three Months Ended****March                31,** |   |
|                                          |   | **2008**                                                     |   | **2007**                                                     |   | **2008** |   | **2007** |   |
|                                          |   |                                                         |   |                                                         |   |   |   |   |   |
| Service                cost                   |   | $                                                            | 35     |                                                         | $      | 42 |   | $ | - |   | $ | 3 |   |
| Interest                cost                  |   |                                                         | 316    |                                                         |   | 507 |   |   | - |   |   | 6 |   |
| Expected                return on plan assets |   |                                                         | (361   | )                                                            |   | (566 | ) |   | - |   |   | - |   |
| Amortization                of actuarial loss |   |                                                         | -      |                                                         |   | 110 |   |   | - |   |   | (1 | ) |
| Net                periodic benefit cost      |   | $                                                            | (10    | )                                                            | $      | 93 |   | $ | - |   | $ | 8 |   |

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*Table          of Contents*

**STONERIDGE,      INC. **

**NOTES      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**(in      thousands, except share and per share data, unless otherwise      indicated)**

**(11)        Income Taxes**

| Jurisdiction                  |   | Open                Tax Years |
|-------------------------------|--------|-------------------------------|
| U.S.                Federal   |   | 2003-2006                     |
| France                        |   | 2003-2006                     |
| Mexico                        |   | 2001-2006                     |
| Spain                         |   | 2002-2006                     |
| Sweden                        |   | 2001-2006                     |
| United                Kingdom |   | 2002-2006                     |

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*Table          of Contents*

**STONERIDGE,      INC. **

**NOTES      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**(in      thousands, except share and per share data, unless otherwise      indicated)**

**(12)        Accounting Pronouncements**

*Business        Combinations *

*Noncontrolling        Interests in Consolidated Financial Statements *

*Disclosures        about Derivative Instruments and Hedging Activities—an amendment of FASB        Statement No. 133*

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*Table          of Contents*

**STONERIDGE,      INC. **

**NOTES      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**(in      thousands, except share and per share data, unless otherwise      indicated)**

**(13)        Segment Reporting**

*Disclosures        about Segments of an Enterprise and Related Information,*

|                                                               |   | **Three                Months Ended****March                31,** |    |
|--------------------------------------------------------------------|--------|-------------------------------------------------------------------|---------|
|                                                               |   | **2008**                                                          |    | **2007** |   |
| **Net                Sales**                                       |   |                                                              |    |   |   |
| Electronics                                                        |   | $                                                                 | 133,216 |   | $ | 110,565 |   |
| Inter-segment                sales                                 |   |                                                              | 3,743   |   |   | 4,585 |   |
| Electronics                net sales                               |   |                                                              | 136,959 |   |   | 115,150 |   |
|                                                               |   |                                                              |    |   |   |   |   |
| Control                Devices                                     |   |                                                              | 69,854  |   |   | 74,463 |   |
| Inter-segment                sales                                 |   |                                                              | 1,320   |   |   | 1,366 |   |
| Control                Devices net sales                           |   |                                                              | 71,174  |   |   | 75,829 |   |
|                                                               |   |                                                              |    |   |   |   |   |
| Eliminations                                                       |   |                                                              | (5,063  | ) |   | (5,951 | ) |
| Total                consolidated net sales                        |   | $                                                                 | 203,070 |   | $ | 185,028 |   |
|                                                               |   |                                                              |    |   |   |   |   |
| **Income                Before Income Taxes**                      |   |                                                              |    |   |   |   |   |
| Electronics                                                        |   | $                                                                 | 12,991  |   | $ | 5,153 |   |
| Control                Devices                                     |   |                                                              | 2,076   |   |   | 4,482 |   |
| Other                corporate activities                          |   |                                                              | 1,907   |   |   | 1,948 |   |
| Corporate                interest expense                          |   |                                                              | (5,315  | ) |   | (5,526 | ) |
| Total                consolidated income before income taxes       |   | $                                                                 | 11,659  |   | $ | 6,057 |   |
|                                                               |   |                                                              |    |   |   |   |   |
| **Depreciation                and Amortization**                   |   |                                                              |    |   |   |   |   |
| Electronics                                                        |   | $                                                                 | 3,516   |   | $ | 3,168 |   |
| Control                Devices                                     |   |                                                              | 3,829   |   |   | 3,967 |   |
| Corporate                activities                                |   |                                                              | (6      | ) |   | 85 |   |
| Total                consolidated depreciation and amortization(A) |   | $                                                                 | 7,339   |   | $ | 7,220 |   |

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*Table          of Contents*

**STONERIDGE,      INC. **

**NOTES      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**(**
**in      thousands, except share and per share data, unless otherwise      indicated)**

|                                                    |   | **Three                Months Ended****March                31,** |   |
|---------------------------------------------------------|--------|-------------------------------------------------------------------|--------|
|                                                    |   | **2008**                                                          |   | **2007** |   |
| **Interest                Expense (Income)**            |   |                                                              |   |   |   |
| Electronics                                             |   | $                                                                 | 57     |   | $ | (41 | ) |
| Control                Devices                          |   |                                                              | -      |   |   | (1 | ) |
| Corporate                activities                     |   |                                                              | 5,315  |   |   | 5,526 |   |
| Total                consolidated interest expense, net |   | $                                                                 | 5,372  |   | $ | 5,484 |   |
|                                                    |   |                                                              |   |   |   |   |   |
| **Capital                Expenditures**                 |   |                                                              |   |   |   |   |   |
| Electronics                                             |   | $                                                                 | 1,771  |   | $ | 3,337 |   |
| Control                Devices                          |   |                                                              | 3,694  |   |   | 2,804 |   |
| Corporate                activities                     |   |                                                              | 48     |   |   | 666 |   |
| Total                consolidated capital expenditures  |   | $                                                                 | 5,513  |   | $ | 6,807 |   |

|                                     |   |   | **March 31,****2008** |   |   | **December 31,****2007** |   |
|------------------------------------------|--------|--------|----------------------------|--------|--------|-------------------------------|--------|
| **Total                Assets**          |   |   |                       |   |   |                          |   |
| Electronics                              |   | $      | 231,728                    |   | $      | 214,119                       |   |
| Control                Devices           |   |   | 189,599                    |   |   | 180,785                       |   |
| Corporate(B)                             |   |   | 289,521                    |   |   | 282,695                       |   |
| Eliminations                             |   |   | (163,787                   | )      |   | (149,830                      | )      |
| Total                consolidated assets |   | $      | 547,061                    |   | $      | 527,769                       |   |

|                                        |   | **Three Months Ended****March 31,** |    |
|---------------------------------------------|--------|----------------------------------------------------|---------|
|                                        |   | **2008**                                           |    | **2007** |   |
| **Net                Sales**           |   |                                               |    |   |   |
| North                America                |   | $                                                  | 147,198 |   | $ | 134,061 |   |
| Europe                and other             |   |                                               | 55,872  |   |   | 50,967 |   |
| Total                consolidated net sales |   | $                                                  | 203,070 |   | $ | 185,028 |   |

|                                                 |   |   | **March 31,****2008** |   |   | **December 31,****2007** |   |
|------------------------------------------------------|--------|--------|----------------------------|--------|--------|-------------------------------|--------|
| **Non-Current                Assets**                |   |   |                       |   |   |                          |   |
| North                America                         |   | $      | 203,080                    |   | $      | 204,556                       |   |
| Europe                and other                      |   |   | 22,284                     |   |   | 21,854                        |   |
| Total                consolidated non-current assets |   | $      | 225,364                    |   | $      | 226,410                       |   |

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*Table          of Contents*

**STONERIDGE,      INC. **

**NOTES      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**(14)        Investments**

***PST        Eletrônica S.A.***

|                                                 |   | **Three                Months Ended****March                31,** |   |
|------------------------------------------------------|--------|-------------------------------------------------------------------|--------|
|                                                 |   | **2008**                                                          |   | **2007** |   |
|                                                 |   |                                                              |   |   |   |
| Revenues                                             |   | $                                                                 | 43,946 |   | $ | 27,351 |   |
| Cost                of sales                         |   | $                                                                 | 21,048 |   | $ | 12,823 |   |
|                                                 |   |                                                              |   |   |   |   |   |
| Total                pre-tax income                  |   | $                                                                 | 8,763  |   | $ | 5,325 |   |
| The                Company's share of pre-tax income |   | $                                                                 | 4,382  |   | $ | 2,663 |   |

***Minda      Stoneridge Instruments Ltd.***

***Business      Acquisition***

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*Table          of Contents*

**STONERIDGE,      INC. **

**NOTES      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**(in      thousands, except share and per share data, unless otherwise      indicated)**

**(15)        Guarantor Financial Information**

|                                                            |   | **March                31, 2008** |     |
|-----------------------------------------------------------------|--------|-----------------------------------|----------|
|                                                            |   | **Parent**                        |     | **Guarantor****Subsidiaries** |   | **Non-****Guarantor****Subsidiaries** |   | **Eliminations** |   | **Consolidated** |   |
|                                                            |   |                              |     |   |   |   |   |   |   |   |   |
| ASSETS                                                          |   |                              |     |   |   |   |   |   |   |   |   |
|                                                            |   |                              |     |   |   |   |   |   |   |   |   |
| Current                Assets:                                  |   |                              |     |   |   |   |   |   |   |   |   |
| Cash                and cash equivalents                        |   | $                                 | 42,764   |   | $ | 52 |   | $ | 45,457 |   | $ | - |   | $ | 88,273 |   |
| Accounts                receivable, net                         |   |                              | 61,928   |   |   | 31,919 |   |   | 43,136 |   |   | - |   |   | 136,983 |   |
| Inventories,                net                                 |   |                              | 30,216   |   |   | 12,418 |   |   | 23,957 |   |   | - |   |   | 66,591 |   |
| Prepaid                expenses and other                       |   |                              | (286,867 | ) |   | 294,487 |   |   | 12,042 |   |   | - |   |   | 19,662 |   |
| Deferred                income taxes                            |   |                              | 3,235    |   |   | 4,470 |   |   | 2,483 |   |   | - |   |   | 10,188 |   |
| Total                current assets                             |   |                              | (148,724 | ) |   | 343,346 |   |   | 127,075 |   |   | - |   |   | 321,697 |   |
|                                                            |   |                              |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long-Term                Assets:                                |   |                              |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property,                plant and equipment, net               |   |                              | 48,619   |   |   | 25,285 |   |   | 17,949 |   |   | - |   |   | 91,853 |   |
| Other                Assets:                                    |   |                              |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Goodwill                                                        |   |                              | 44,585   |   |   | 20,591 |   |   | 544 |   |   | - |   |   | 65,720 |   |
| Investments                and other, net                       |   |                              | 42,363   |   |   | 295 |   |   | 515 |   |   | - |   |   | 43,173 |   |
| Deferred                income taxes                            |   |                              | 28,630   |   |   | (2,719 | ) |   | (1,293 | ) |   | - |   |   | 24,618 |   |
| Investment                in subsidiaries                       |   |                              | 445,976  |   |   | - |   |   | - |   |   | (445,976 | ) |   | - |   |
| Total                long-term assets                           |   |                              | 610,173  |   |   | 43,452 |   |   | 17,715 |   |   | (445,976 | ) |   | 225,364 |   |
| Total                Assets                                     |   | $                                 | 461,449  |   | $ | 386,798 |   | $ | 144,790 |   | $ | (445,976 | ) | $ | 547,061 |   |
|                                                            |   |                              |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LIABILITIES                AND SHAREHOLDERS’ EQUITY       |   |                              |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                            |   |                              |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Current                Liabilities:                             |   |                              |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Accounts                payable                                 |   | $                                 | 29,356   |   | $ | 21,445 |   | $ | 25,780 |   | $ | - |   | $ | 76,581 |   |
| Accrued                expenses and other                       |   |                              | 24,360   |   |   | 9,197 |   |   | 24,466 |   |   | - |   |   | 58,023 |   |
| Total                current liabilities                        |   |                              | 53,716   |   |   | 30,642 |   |   | 50,246 |   |   | - |   |   | 134,604 |   |
|                                                            |   |                              |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long-Term                Liabilities:                           |   |                              |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long-term                debt                                   |   |                              | 189,000  |   |   | - |   |   | - |   |   | - |   |   | 189,000 |   |
| Deferred                income taxes                            |   |                              | -        |   |   | - |   |   | 2,951 |   |   | - |   |   | 2,951 |   |
| Other                liabilities                                |   |                              | 590      |   |   | 393 |   |   | 1,380 |   |   | - |   |   | 2,363 |   |
| Total                long-term liabilities                      |   |                              | 189,590  |   |   | 393 |   |   | 4,331 |   |   | - |   |   | 194,314 |   |
|                                                            |   |                              |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Shareholders'                Equity                             |   |                              | 218,143  |   |   | 355,763 |   |   | 90,213 |   |   | (445,976 | ) |   | 218,143 |   |
|                                                            |   |                              |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                Liabilities and Shareholders’ Equity |   | $                                 | 461,449  |   | $ | 386,798 |   | $ | 144,790 |   | $ | (445,976 | ) | $ | 547,061 |   |

----

*Table          of Contents*

**STONERIDGE,      INC. **

**NOTES      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**(in      thousands, except share and per share data, unless otherwise      indicated)**

|                                                            |   | **December                31, 2007** |     |
|-----------------------------------------------------------------|--------|--------------------------------------|----------|
|                                                            |   | **Parent**                           |     | **Guarantor****Subsidiaries** |   | **Non-****Guarantor****Subsidiaries** |   | **Eliminations** |   | **Consolidated** |   |
|                                                            |   |                                 |     |   |   |   |   |   |   |   |   |
| ASSETS                                                          |   |                                 |     |   |   |   |   |   |   |   |   |
|                                                            |   |                                 |     |   |   |   |   |   |   |   |   |
| Current                Assets:                                  |   |                                 |     |   |   |   |   |   |   |   |   |
| Cash                and cash equivalents                        |   | $                                    | 48,705   |   | $ | 255 |   | $ | 46,964 |   | $ | - |   | $ | 95,924 |   |
| Accounts                receivable, net                         |   |                                 | 53,456   |   |   | 26,798 |   |   | 42,034 |   |   | - |   |   | 122,288 |   |
| Inventories,                net                                 |   |                                 | 25,472   |   |   | 12,637 |   |   | 19,283 |   |   | - |   |   | 57,392 |   |
| Prepaid                expenses and other                       |   |                                 | (293,632 | ) |   | 294,298 |   |   | 15,260 |   |   | - |   |   | 15,926 |   |
| Deferred                income taxes                            |   |                                 | 3,152    |   |   | 4,591 |   |   | 2,086 |   |   | - |   |   | 9,829 |   |
| Total                current assets                             |   |                                 | (162,847 | ) |   | 338,579 |   |   | 125,627 |   |   | - |   |   | 301,359 |   |
|                                                            |   |                                 |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long-Term                Assets:                                |   |                                 |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property,                plant and equipment, net               |   |                                 | 48,294   |   |   | 25,632 |   |   | 18,826 |   |   | - |   |   | 92,752 |   |
| Other                Assets:                                    |   |                                 |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Goodwill                                                        |   |                                 | 44,585   |   |   | 20,591 |   |   | - |   |   | - |   |   | 65,176 |   |
| Investments                and other, net                       |   |                                 | 38,783   |   |   | 331 |   |   | 340 |   |   | - |   |   | 39,454 |   |
| Deferred                income taxes                            |   |                                 | 33,169   |   |   | (2,843 | ) |   | (1,298 | ) |   | - |   |   | 29,028 |   |
| Investment                in subsidiaries                       |   |                                 | 438,271  |   |   | - |   |   | - |   |   | (438,271 | ) |   | - |   |
| Total                long-term assets                           |   |                                 | 603,102  |   |   | 43,711 |   |   | 17,868 |   |   | (438,271 | ) |   | 226,410 |   |
| Total                Assets                                     |   | $                                    | 440,255  |   | $ | 382,290 |   | $ | 143,495 |   | $ | (438,271 | ) | $ | 527,769 |   |
|                                                            |   |                                 |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LIABILITIES                AND SHAREHOLDERS’ EQUITY       |   |                                 |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                            |   |                                 |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Current                Liabilities:                             |   |                                 |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Accounts                payable                                 |   | $                                    | 20,924   |   | $ | 19,533 |   | $ | 28,916 |   | $ | - |   | $ | 69,373 |   |
| Accrued                expenses and other                       |   |                                 | 12,546   |   |   | 9,198 |   |   | 25,454 |   |   | - |   |   | 47,198 |   |
| Total                current liabilities                        |   |                                 | 33,470   |   |   | 28,731 |   |   | 54,370 |   |   | - |   |   | 116,571 |   |
|                                                            |   |                                 |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long-Term                Liabilities:                           |   |                                 |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long-term                debt                                   |   |                                 | 200,000  |   |   | - |   |   | - |   |   | - |   |   | 200,000 |   |
| Deferred                income taxes                            |   |                                 | -        |   |   | - |   |   | 2,665 |   |   | - |   |   | 2,665 |   |
| Other                liabilities                                |   |                                 | 596      |   |   | 393 |   |   | 1,355 |   |   |   |   |   | 2,344 |   |
| Total                long-term liabilities                      |   |                                 | 200,596  |   |   | 393 |   |   | 4,020 |   |   | - |   |   | 205,009 |   |
|                                                            |   |                                 |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Shareholders'                Equity                             |   |                                 | 206,189  |   |   | 353,166 |   |   | 85,105 |   |   | (438,271 | ) |   | 206,189 |   |
|                                                            |   |                                 |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                Liabilities and Shareholders’ Equity |   | $                                    | 440,255  |   | $ | 382,290 |   | $ | 143,495 |   | $ | (438,271 | ) | $ | 527,769 |   |

----

*Table          of Contents*

**STONERIDGE,      INC. **

**NOTES      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**(in      thousands, except share and per share data, unless otherwise      indicated)**

|                                               |   | **Three                Months Ended March 31, 2008** |    |
|----------------------------------------------------|--------|------------------------------------------------------|---------|
|                                               |   | **Parent**                                           |    | **Guarantor****Subsidiaries** |   | **Non-****Guarantor****Subsidiaries** |   | **Eliminations** |   | **Consolidated** |   |
|                                               |   |                                                 |    |   |   |   |   |   |   |   |   |
| Net                Sales                           |   | $                                                    | 104,046 |   | $ | 52,567 |   | $ | 70,331 |   | $ | (23,874 | ) | $ | 203,070 |   |
|                                               |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs                and Expenses:                 |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost                of goods sold                  |   |                                                 | 82,557  |   |   | 40,259 |   |   | 51,667 |   |   | (23,230 | ) |   | 151,253 |   |
| Selling,                general and administrative |   |                                                 | 14,265  |   |   | 8,445 |   |   | 14,216 |   |   | (644 | ) |   | 36,282 |   |
| Restructuring                charges               |   |                                                 | 541     |   |   | - |   |   | 881 |   |   | - |   |   | 1,422 |   |
|                                               |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                Income                    |   |                                                 | 6,683   |   |   | 3,863 |   |   | 3,567 |   |   | - |   |   | 14,113 |   |
|                                               |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                expense (income), net      |   |                                                 | 5,523   |   |   | - |   |   | (151 | ) |   | - |   |   | 5,372 |   |
| Other                (income) loss, net            |   |                                                 | (3,321  | ) |   | - |   |   | 403 |   |   | - |   |   | (2,918 | ) |
| Equity                earnings from subsidiaries   |   |                                                 | (6,125  | ) |   | - |   |   | - |   |   | 6,125 |   |   | - |   |
|                                               |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income                Before Income Taxes          |   |                                                 | 10,606  |   |   | 3,863 |   |   | 3,315 |   |   | (6,125 | ) |   | 11,659 |   |
|                                               |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Provision                for income taxes          |   |                                                 | 4,059   |   |   | 63 |   |   | 990 |   |   | - |   |   | 5,112 |   |
|                                               |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                Income                          |   | $                                                    | 6,547   |   | $ | 3,800 |   | $ | 2,325 |   | $ | (6,125 | ) | $ | 6,547 |   |

|                                               |   | **Three                Months Ended March 31, 2007** |    |
|----------------------------------------------------|--------|------------------------------------------------------|---------|
|                                               |   | **Parent**                                           |    | **Guarantor****Subsidiaries** |   | **Non-****Guarantor****Subsidiaries** |   | **Eliminations** |   | **Consolidated** |   |
|                                               |   |                                                 |    |   |   |   |   |   |   |   |   |
| Net                Sales                           |   | $                                                    | 88,851  |   | $ | 52,071 |   | $ | 63,975 |   | $ | (19,869 | ) | $ | 185,028 |   |
|                                               |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs                and Expenses:                 |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost                of goods sold                  |   |                                                 | 78,544  |   |   | 36,581 |   |   | 46,267 |   |   | (19,211 | ) |   | 142,181 |   |
| Selling,                general and administrative |   |                                                 | 12,982  |   |   | 8,033 |   |   | 12,740 |   |   | (658 | ) |   | 33,097 |   |
| Restructuring                charges               |   |                                                 | 41      |   |   | - |   |   | - |   |   | - |   |   | 41 |   |
|                                               |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                Income (Loss)             |   |                                                 | (2,716  | ) |   | 7,457 |   |   | 4,968 |   |   | - |   |   | 9,709 |   |
|                                               |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                expense (income), net      |   |                                                 | 5,798   |   |   | - |   |   | (314 | ) |   | - |   |   | 5,484 |   |
| Other                (income) loss, net            |   |                                                 | (2,033  | ) |   | 26 |   |   | 175 |   |   | - |   |   | (1,832 | ) |
| Equity                earnings from subsidiaries   |   |                                                 | (11,491 | ) |   | - |   |   | - |   |   | 11,491 |   |   | - |   |
|                                               |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income                Before Income Taxes          |   |                                                 | 5,010   |   |   | 7,431 |   |   | 5,107 |   |   | (11,491 | ) |   | 6,057 |   |
|                                               |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Provision                for income taxes          |   |                                                 | 140     |   |   | 4 |   |   | 1,043 |   |   | - |   |   | 1,187 |   |
|                                               |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                Income                          |   | $                                                    | 4,870   |   | $ | 7,427 |   | $ | 4,064 |   | $ | (11,491 | ) | $ | 4,870 |   |

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*Table          of Contents*

**STONERIDGE,      INC. **

**NOTES      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**(in      thousands, except share and per share data, unless otherwise      indicated)**

|                                                                                           |   | **Three                Months Ended March 31, 2008** |    |
|------------------------------------------------------------------------------------------------|--------|------------------------------------------------------|---------|
|                                                                                           |   | **Parent**                                           |    | **Guarantor****Subsidiaries** |   | **Non-****Guarantor****Subsidiaries** |   | **Eliminations** |   | **Consolidated** |   |
|                                                                                           |   |                                                 |    |   |   |   |   |   |   |   |   |
| Net                cash provided by (used for) operating activities                            |   | $                                                    | 8,840   |   | $ | 1,151 |   | $ | (1,368 | ) | $ | - |   | $ | 8,623 |   |
|                                                                                           |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| INVESTING                ACTIVITIES:                                                           |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Capital                expenditures                                                            |   |                                                 | (3,501  | ) |   | (1,354 | ) |   | (658 | ) |   | - |   |   | (5,513 | ) |
| Proceeds                from the sale of fixed assets                                          |   |                                                 | 36      |   |   | - |   |   | - |   |   | - |   |   | 36 |   |
| Business                acquisitions and other                                                 |   |                                                 | -       |   |   | - |   |   | (1,061 | ) |   | - |   |   | (1,061 | ) |
| Net                cash used for investing activities                                          |   |                                                 | (3,465  | ) |   | (1,354 | ) |   | (1,719 | ) |   | - |   |   | (6,538 | ) |
|                                                                                           |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| FINANCING                ACTIVITIES:                                                           |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Repayments                of long-term debt                                                    |   |                                                 | (11,000 | ) |   | - |   |   | - |   |   | - |   |   | (11,000 | ) |
| Share-based                compensation activity, net                                          |   |                                                 | 42      |   |   | - |   |   | - |   |   | - |   |   | 42 |   |
| Other                financing costs                                                           |   |                                                 | (358    | ) |   | - |   |   | - |   |   | - |   |   | (358 | ) |
| Net                cash used for financing activities                                          |   |                                                 | (11,316 | ) |   | - |   |   | - |   |   | - |   |   | (11,316 | ) |
|                                                                                           |   |                                                 |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Effect                  of exchange rate changes on cash and cash                  equivalents |   |                                                 | -       |   |   | - |   |   | 1,580 |   |   | - |   |   | 1,580 |   |
| Net                change in cash and cash equivalents                                         |   |                                                 | (5,941  | ) |   | (203 | ) |   | (1,507 | ) |   | - |   |   | (7,651 | ) |
| Cash                  and cash equivalents at beginning of period                              |   |                                                 | 48,705  |   |   | 255 |   |   | 46,964 |   |   | - |   |   | 95,924 |   |
| Cash                and cash equivalents at end of period                                      |   | $                                                    | 42,764  |   | $ | 52 |   | $ | 45,457 |   | $ | - |   | $ | 88,273 |   |

|                                                                |   | **Three                Months Ended March 31, 2007** |   |
|---------------------------------------------------------------------|--------|------------------------------------------------------|--------|
|                                                                |   | **Parent**                                           |   | **Guarantor****Subsidiaries** |   | **Non-****Guarantor****Subsidiaries** |   | **Eliminations** |   | **Consolidated** |   |
|                                                                |   |                                                 |   |   |   |   |   |   |   |   |   |
| Net                cash provided by (used for) operating activities |   | $                                                    | (2,597 | ) | $ | 1,504 |   | $ | (3,663 | ) | $ | (300 | ) | $ | (5,056 | ) |
|                                                                |   |                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| INVESTING                ACTIVITIES:                                |   |                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Capital                expenditures                                 |   |                                                 | (3,403 | ) |   | (1,472 | ) |   | (1,932 | ) |   | - |   |   | (6,807 | ) |
| Proceeds                from the sale of fixed assets               |   |                                                 | 35     |   |   | - |   |   | - |   |   | - |   |   | 35 |   |
| Net                cash used for investing activities               |   |                                                 | (3,368 | ) |   | (1,472 | ) |   | (1,932 | ) |   | - |   |   | (6,772 | ) |
|                                                                |   |                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| FINANCING                ACTIVITIES:                                |   |                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Borrowings                (repayments) of long-term debt            |   |                                                 | (156   | ) |   | - |   |   | (144 | ) |   | 300 |   |   | - |   |
| Share-based                compensation activity, net               |   |                                                 | 355    |   |   | - |   |   | - |   |   | - |   |   | 355 |   |
| Net                cash provided by (used for) financing activities |   |                                                 | 199    |   |   | - |   |   | (144 | ) |   | 300 |   |   | 355 |   |
|                                                                |   |                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Effect                of exchange rate changes on cash              |   |                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| and                cash equivalents                                 |   |                                                 | -      |   |   | - |   |   | (142 | ) |   | - |   |   | (142 | ) |
| Net                change in cash and cash equivalents              |   |                                                 | (5,766 | ) |   | 32 |   |   | (5,881 | ) |   | - |   |   | (11,615 | ) |
| Cash                  and cash equivalents at beginning of period   |   |                                                 | 28,937 |   |   | 12 |   |   | 36,933 |   |   | - |   |   | 65,882 |   |
| Cash                and cash equivalents at end of period           |   | $                                                    | 23,171 |   | $ | 44 |   | $ | 31,052 |   | $ | - |   | $ | 54,267 |   |

----

*Table          of Contents*

**Item      2. Management’s Discussion and Analysis of Financial Condition      and Results of Operations.**

***Overview***

***Results      of Operations***

----

*Table          of Contents*

***Three      Months Ended March 31, 2008 Compared to Three Months Ended March 31,      2007***

*Net      Sales*

|                           |   | **Three                Months Ended****March                31,** |    | **$ Increase                /** |   | **% Increase                /** |   |
|--------------------------------|--------|-------------------------------------------------------------------|---------|--------------------------------------|--------|--------------------------------------|--------|
|                           |   | **2008**                                                          |    | **2007**                             |   | **(Decrease)**                       |   | **(Decrease)** |   |
| Electronics                    |   | $                                                                 | 133,216 |                                 |   | 65.6                                 | %      | $ | 110,565 |   |   | 59.8 | % | $ | 22,651 |   |   | 20.5 | % |
| Control                Devices |   |                                                              | 69,854  |                                 |   | 34.4                                 |   |   | 74,463 |   |   | 40.2 |   |   | (4,609 | ) |   | (6.2) | % |
| Total                net sales |   | $                                                                 | 203,070 |                                 |   | 100.0                                | %      | $ | 185,028 |   |   | 100.0 | % | $ | 18,042 |   |   | 9.8 | % |

|                            |   | **Three                Months Ended****March                31,** |    | **$ Increase                /** |   | **% Increase                /** |   |
|---------------------------------|--------|-------------------------------------------------------------------|---------|--------------------------------------|--------|--------------------------------------|--------|
|                            |   | **2008**                                                          |    | **2007**                             |   | **(Decrease)**                       |   | **(Decrease)** |   |
|                            |   |                                                              |    |                                 |   |                                 |   |   |   |   |   |   |   |
| North                America    |   | $                                                                 | 147,198 |                                 |   | 72.5                                 | %      | $ | 134,061 |   |   | 72.5 | % | $ | 13,137 |   |   | 9.8 | % |
| Europe                and other |   |                                                              | 55,872  |                                 |   | 27.5                                 |   |   | 50,967 |   |   | 27.5 |   |   | 4,905 |   |   | 9.6 | % |
| Total                net sales  |   | $                                                                 | 203,070 |                                 |   | 100.0                                | %      | $ | 185,028 |   |   | 100.0 | % | $ | 18,042 |   |   | 9.8 | % |

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*Table          of Contents*

|                                                |   | **Three                Months Ended****March                31,** |    | **$ Increase                /** |   |
|-----------------------------------------------------|--------|-------------------------------------------------------------------|---------|--------------------------------------|--------|
|                                                |   | **2008**                                                          |    | **2007**                             |   | **(Decrease)** |   |
|                                                |   |                                                              |    |                                 |   |   |   |   |   |   |   |
| Net                Sales                            |   | $                                                                 | 203,070 |                                 |   | 100.0 | % | $ | 185,028 |   |   | 100.0 | % | $ | 18,042 |   |
|                                                |   |                                                              |    |                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs                and Expenses:                  |   |                                                              |    |                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost                of goods sold                   |   |                                                              | 151,253 |                                 |   | 74.5 |   |   | 142,181 |   |   | 76.8 |   |   | 9,072 |   |
| Selling,                general and administrative  |   |                                                              | 36,282  |                                 |   | 17.9 |   |   | 33,097 |   |   | 17.9 |   |   | 3,185 |   |
| Restructuring                charges                |   |                                                              | 1,422   |                                 |   | 0.7 |   |   | 41 |   |   | 0.0 |   |   | 1,381 |   |
|                                                |   |                                                              |    |                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                Income                     |   |                                                              | 14,113  |                                 |   | 6.9 |   |   | 9,709 |   |   | 5.3 |   |   | 4,404 |   |
|                                                |   |                                                              |    |                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                expense, net                |   |                                                              | 5,372   |                                 |   | 2.6 |   |   | 5,484 |   |   | 3.0 |   |   | (112 | ) |
| Equity                in earnings of investees      |   |                                                              | (3,819  | )                                    |   | (1.9 | ) |   | (2,120 | ) |   | (1.1 | ) |   | (1,699 | ) |
| Loss                on early extinguishment of debt |   |                                                              | 499     |                                 |   | 0.3 |   |   | - |   |   | - |   |   | 499 |   |
| Other                expense, net                   |   |                                                              | 402     |                                 |   | 0.2 |   |   | 288 |   |   | 0.2 |   |   | 114 |   |
|                                                |   |                                                              |    |                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Income                Before Income Taxes           |   |                                                              | 11,659  |                                 |   | 5.7 |   |   | 6,057 |   |   | 3.2 |   |   | 5,602 |   |
|                                                |   |                                                              |    |                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Provision                for income taxes           |   |                                                              | 5,112   |                                 |   | 2.5 |   |   | 1,187 |   |   | 0.6 |   |   | 3,925 |   |
|                                                |   |                                                              |    |                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                Income                           |   | $                                                                 | 6,547   |                                 |   | 3.2 | % | $ | 4,870 |   |   | 2.6 | % | $ | 1,677 |   |

*Cost        of Goods Sold. *

*Selling,        General and Administrative Expenses.*

*Restructuring        Charges.*

|                                                                  |   | **Three Months Ended****March                31, 2008** |   |
|-----------------------------------------------------------------------|--------|-------------------------------------------------------------------|--------|
|                                                                  |   | **Electronics**                                                   |   | **Control Devices** |   | **Total****Consolidated****Restructuring****Charges** |   |
|                                                                  |   |                                                              |   |   |   |   |   |
| Severance                costs                                        |   | $                                                                 | 873    |   | $ | 365 |   | $ | 1,238 |   |
| Other                costs                                            |   |                                                              | 8      |   |   | 176 |   |   | 184 |   |
| Total                general and administrative restructuring charges |   | $                                                                 | 881    |   | $ | 541 |   | $ | 1,422 |   |

----

*Table          of Contents*

|                                                                  |   | **Three                Months Ended****March                31, 2007** |   |
|-----------------------------------------------------------------------|--------|------------------------------------------------------------------------|--------|
|                                                                  |   | **Electronics**                                                        |   | **Control Devices** |   | **Total****Consolidated****Restructuring****Charges** |   |
|                                                                  |   |                                                                   |   |   |   |   |   |
| Severance                costs                                        |   | $                                                                      | 41     |   | $ | - |   | $ | 41 |   |
| Total                general and administrative restructuring charges |   | $                                                                      | 41     |   | $ | - |   | $ | 41 |   |

*Equity        in Earnings of Investees. *

*Income        Before Income Taxes.*

|                                      |   | **Three                Months Ended****March                31,** |   | **$ Increase                /** |   | **% Increase                /** |   |
|-------------------------------------------|--------|-------------------------------------------------------------------|--------|--------------------------------------|--------|--------------------------------------|--------|
|                                      |   | **2008**                                                          |   | **2007**                             |   | **(Decrease)**                       |   | **(Decrease)** |   |
|                                      |   |                                                              |   |                                 |   |                                 |   |   |   |
| Electronics                               |   | $                                                                 | 12,991 |                                 | $      | 5,153                                |   | $ | 7,838 |   |   | 152.1 | % |
| Control                Devices            |   |                                                              | 2,076  |                                 |   | 4,482                                |   |   | (2,406 | ) |   | (53.7) | % |
| Other                corporate activities |   |                                                              | 1,907  |                                 |   | 1,948                                |   |   | (41 | ) |   | (2.1) | % |
| Corporate                interest expense |   |                                                              | (5,315 | )                                    |   | (5,526                               | )      |   | 211 |   |   | 3.8 | % |
| Income                before income taxes |   | $                                                                 | 11,659 |                                 | $      | 6,057                                |   | $ | 5,602 |   |   | 92.5 | % |

----

*Table          of Contents*

|                                      |   | ** Three                Months Ended****March                31,** |   | **$ Increase                /** |   | **% Increase                /** |   |
|-------------------------------------------|--------|-------------------------------------------------------------------------|--------|--------------------------------------|--------|--------------------------------------|--------|
|                                      |   | **2008**                                                                |   | **2007**                             |   | **(Decrease)**                       |   | **(Decrease)** |   |
|                                      |   |                                                                    |   |                                 |   |                                 |   |   |   |   |   |   |   |
| North                America              |   | $                                                                       | 9,921  |                                 |   | 85.1                                 | %      | $ | 2,394 |   |   | 39.5 | % | $ | 7,527 |   |   | 314.4 | % |
| Europe                and other           |   |                                                                    | 1,738  |                                 |   | 14.9                                 |   |   | 3,663 |   |   | 60.5 |   |   | (1,925 | ) |   | (52.6) | % |
| Income                before income taxes |   | $                                                                       | 11,659 |                                 |   | 100.0                                | %      | $ | 6,057 |   |   | 100.0 | % | $ | 5,602 |   |   | 92.5 | % |

*Provision        for Income Taxes.*

***Liquidity      and Capital Resources***

*Summary      of Cash Flows (in thousands):*

|                                                                        |   | **Three                Months Ended****March                31,** |    |                **$ Increase                /** |   |
|-----------------------------------------------------------------------------|--------|-------------------------------------------------------------------|---------|----------------------------------------------------------|--------|
|                                                                        |   | **2008**                                                          |    | **2007**                                                 |   | **(Decrease)** |   |
| Cash                provided by (used for):                                 |   |                                                              |    |                                                     |   |   |   |   |   |   |
| Operating                activities                                         |   | $                                                                 | 8,623   |                                                     | $      | (5,056 | ) | $ | 13,679 |   |
| Investing                activities                                         |   |                                                              | (6,538  | )                                                        |   | (6,772 | ) |   | 234 |   |
| Financing                activities                                         |   |                                                              | (11,316 | )                                                        |   | 355 |   |   | (11,671 | ) |
| Effect                of exchange rate changes on cash and cash equivalents |   |                                                              | 1,580   |                                                     |   | (142 | ) |   | 1,722 |   |
| Net                change in cash and cash equivalents                      |   | $                                                                 | (7,651  | )                                                        | $      | (11,615 | ) | $ | 3,964 |   |

----

*Table          of Contents*

***Critical        Accounting Policies and Estimates***

***Inflation        and International Presence***

***Forward-Looking        Statements***

|   | · | the                loss or bankruptcy of a major customer or                supplier; |
|--------|--------|---------------------------------------------------------------------------------------|

|   | · | the                costs and timing of facility closures, business realignment, or similar                actions; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------|

|   | · | a                significant change in automotive, medium- and heavy-duty, agricultural                or                off-highway vehicle production; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | our                ability to achieve cost reductions that offset or exceed customer-mandated                selling price reductions; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------|

|   | · | a                significant change in general economic conditions in any of the various                countries in which we operate; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------|

|   | · | labor                disruptions at our facilities or at any of our significant customers                or                suppliers; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------|

|   | · | the                ability of our suppliers to supply us with parts and components at                competitive prices on a timely                basis; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | the                amount of debt and the restrictive covenants contained in our credit                facility; |
|--------|--------|------------------------------------------------------------------------------------------------------------------|

----

*Table          of Contents*

|   | · | customer                acceptance of new products; |
|--------|--------|-----------------------------------------------------|

|   | · | capital                availability or costs, including changes in interest rates or market                perceptions; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------|

|   | · | the                successful integration of any acquired                businesses; |
|--------|--------|--------------------------------------------------------------------------------------|

|   | · | the                occurrence or non-occurrence of circumstances beyond our control;                and |
|--------|--------|---------------------------------------------------------------------------------------------------------|

|   | · | those                items described in Part I, Item IA (“Risk Factors”) of the Company’s 2007                Form 10-K. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------|

**Item        3. Quantitative and Qualitative Disclosures About Market        Risk.**

***Interest        Rate Risk***

***Commodity        Price Risk***

***Foreign        Currency Exchange Risk***

----

*Table          of Contents*

**Item        4. Controls and Procedures.**

***Evaluation        of Disclosure Controls and Procedures***

***Changes        in Internal Control Over Financial Reporting***

----

*Table          of Contents*

**PART      II–OTHER INFORMATION**

**Item      1. Legal Proceedings.**

**Item      1A. Risk Factors.**

**Item      2. Unregistered Sales of Equity Securities and Use      of Proceeds.**

**Item      3. Defaults Upon Senior      Securities.**

**Item      4. Submission of Matters to a Vote of Security      Holders.**

**Item      5. Other Information.**

**Item      6. Exhibits.**

----

*Table          of Contents*

**SIGNATURES**

|                             | STONERIDGE,                INC.                                                                 |
|----------------------------------|-------------------------------------------------------------------------------------------------|
| Date:                May 9, 2008 | /s/                John C. Corey                                                                |
|                             | John                C. Corey*President,                Chief Executive Officer and Director*    |
|                             | (Principal                Executive Officer)                                                    |
|                             |                                                                                            |
| Date:                May 9, 2008 | /s/                George E. Strickler                                                          |
|                             | George                E. Strickler                                                              |
|                             | *Executive                Vice President, Chief Financial Officer and                Treasurer* |
|                             | (Principal                Financial and Accounting Officer)                                     |

----

*Table          of Contents*

**INDEX      TO EXHIBITS**

| ExhibitNumber |   |  Exhibit                                                                                                                                                                                                                           |
|---------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|          |   |                                                                                                                                                                                                                                    |
| 31.1          |   | Chief                Executive Officer certification pursuant to Section 302 of the                Sarbanes-Oxley Act of 2002, filed herewith.                                                                                          |
|          |   |                                                                                                                                                                                                                                    |
| 31.2          |   | Chief                Financial Officer certification pursuant to Section 302 of the                Sarbanes-Oxley Act of 2002, filed herewith.                                                                                          |
|          |   |                                                                                                                                                                                                                                    |
| 32.1          |   | Chief                Executive Officer certification pursuant to 18 USC Section 1350,                as                adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002,                filed                herewith. |
|          |   |                                                                                                                                                                                                                                    |
| 32.2          |   | Chief                Financial Officer certification pursuant to 18 USC Section 1350,                as                adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002,                filed                herewith. |

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