11/3/2011 12:25:00 AM
NEWS BRIEFS
Rising Raw Material Price Hikes Trim TRW Profits
TRW Automotive Holdings Corp. reported third quarter 2011 sales, including fasteners, rose 14% to $3.9 billion, boosted by improved vehicle production volumes and increased demand for the company’s products. Q3 operating earnings dropped 10.7% to $240 million, hampered by higher raw material prices, while net earnings slipped 6% to $177 million.
Nine-month sales, including fasteners, increased 15% to $12.3 billion, while operating income gained 10% to $980 million. Adjusted EBITDA totaled increased 5% to $1.31 billion.
TRW Automotive Holdings Corp. reported third quarter 2011 sales, including fasteners, rose 14% to $3.9 billion, boosted by improved vehicle production volumes and increased demand for the company’s products.
Q3 operating earnings dropped 10.7% to $240 million, hampered by higher raw material prices, while net earnings slipped 6% to $177 million.
Nine-month sales, including fasteners, increased 15% to $12.3 billion, while operating income gained 10% to $980 million. Adjusted EBITDA totaled increased 5% to $1.31 billion.
“TRW’s solid third quarter results and business performance achieved through the first nine months of this year provide evidence of the Company’s outstanding product and geographical positions,” said CEO John Plant.
“We are confident in the future given the Company’s strong market position and profitable growth initiatives that are positioning TRW for long-term success.” ©2011 GlobalFastenerNews.com
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