TRW Automotive Q4 Sales Up 10%
Net earnings were $217m for the fourth quarter of 2010, compared to $146m for the same period in 2009. Gross profit was $467m, compared to $375m for the same period in 2009.
For the fourth quarter of 2010 operating income was $293m, compared to $229m for the same period in 2009.
For the twelve months ended December 31, 2010, sales were $14.38 billion, compared to $11.61 billion for the same period in 2009. Operating income was $1.18 billion, compared to $289m for the same period in 2009.
Net earnings were $875m for the twelve months of 2010, compared to $73m for the same period in 2009. Gross profit was $1.72 billion, compared to $906m for the same period in 2009.
TRWâ€™s planning assumptions for industry production volumes are approximately 12.7 million units in North America and 18.7 million units in Europe, up seven percent and flat, respectively, compared to 2010 levels.
The company continues to expect China and the rest of world regions to remain growth engines in 2011. Based on these production levels and the companyâ€™s expectations for foreign currency exchange rates, full year 2011 sales are expected to range between $14.9 billion and $15.3 billion, with first quarter sales expected to be approximately $3.9 billion.
Plant, chairman, president and CEO TRW, said: â€œTRW ended the year with a significantly improved capital structure including a record low net debt level and strong performance on reducing the companyâ€™s legacy liabilities. The outstanding business performance achieved in 2010 demonstrates TRW is executing the right strategy for long-term success.â€
Will the company further improve sales in Q1?
Have your say and discuss with your peers on the InfoGrok community.
Participate by posting your comments now.