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BorgWarner Profit Drops 10% As Revenue Shrinks
BorgWarner Inc. netted $142 million in the first quarter of 2013 compared with $158 million a year earlier.
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BorgWarner Inc. netted $142 million in the first quarter of 2013 compared with $158 million a year earlier.
Revenue slid 3% to $1.9 billion, eroded by lower volume and unfavorable exchange rates. The company says sharply reduced vehicle production in Europe cut the sales of its engine and drivetrain units.
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