8/1/2014 4:12:00 AM
NEWS BRIEFS
TRW Automotive Reports Rising Sales
TRW Automotive reported sales, including fasteners, rose 2% to $4.6 billion in the second quarter of 2014, driven by increasing demand, higher vehicle production volumes, and the positive impact of currency movements. Operating earnings were down slightly to $283 million, while net earnings gained 7% to $265 million.
Sales during the first half of 2014 grew 3.5% to 9 billion, with operating income gains of 6% to $717 million (margin of 7.9%).
TRW expects full year industry production volumes to total 17 million units in North America and 19.9 million units in Europe. Within the forecast for Europe, normal seasonality is expected to place modest downward pressure on vehicle production in the near-term despite continuing signs the industry in the region appears to be headed in the right direction. Outside North America and Europe, the company continues to expect expansion in vehicle production volumes in China, whereas Brazil remains challenged by negative economic conditions.
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