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BorgWarner Sales Up, Net Profit Down
BorgWarner Inc.'s revenue in the fourth quarter of 2014 grew 6% to $2 billion.
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BorgWarner Inc.'s revenue in the fourth quarter of 2014 grew 6% to $2 billion. Operating income climbed 13% to $212 million.
But net income in October-December slipped 1% to $140 million because of higher sales, interest and finance costs.
For the full year, the company's revenue rose 12% to a record $8.3 billion. Operating income advanced 13% to $964 million, and net profit rose 5% to $656 million.
CEO James Verrier predicts double-digit organic sales growth this year, thanks to global demand for the company's turbochargers, diesel components and other fuel efficiency-enhancing products.
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