8/4/2011
NEWS BRIEFS
TRW Sales & Profit Rise on Higher Global Vehicle Output
TRW Automotive Holdings Corp. reported second quarter sales, including fasteners, grew 16% to $4.2 billion, boosted by improved vehicle production volumes in North America, as well as increasing demand for TRW’s products and positive currency translations. Q2 operating income increased 14% to $368 million and GAAP net earnings rose 24% to $293 million.
Sales during the first half of 2011 improved 15% to $8.3 billion, primarily due to a higher level of global vehicle production volumes. Six-month operating income grew 15.6% to $740 million, while GAAP net earnings jumped 33% to $574 million.
“TRW’s record results for the second quarter and first six months of 2011 have been driven by the Company’s strong market position and focus on profitably growing the business,” said CEO John Plant. ©2011 GlobalFastenerNews.com
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