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Autoliv Posts Record Sales as Profits Drop 22%
Autoliv Inc.'s revenue in October-December rose 3% to a record $2.6 billion. But quarterly net income for the Swedish airbag supplier slid 22% to $144 million, and operating income dropped 15% to $239 million.
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Autoliv Inc.'s revenue in October-December rose 3% to a record $2.6 billion. But quarterly net income for the Swedish airbag supplier slid 22% to $144 million, and operating income dropped 15% to $239 million.
The company blames the decline on the cost of acquisitions, administrative overhead and higher product development costs.
Autoliv’s full-year revenue climbed 10% to $10.1 billion. Operating and net incomes grew 17% to $848 million and 23% to $562 million, respectively.
The company predicts its adjusted revenue will grow more than 5% in the current quarter but slow to 2% for calendar 2017.
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