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BorgWarner’s Quarterly Revenue Grows 14%
BorgWarner Inc. reports its first-quarter revenue rose 14% to $2.3 billion, thanks in large part to the effect of last November’s acquisition of Remy International Inc.
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BorgWarner Inc. reports its first-quarter revenue rose 14% to $2.3 billion, thanks in large part to the effect of last November’s acquisition of Remy International Inc.
Adjusted earnings in the first quarter gained 5% to $317 million. Operating income grew 2% to $264 million. But restructuring and acquisition costs caused net income to fall 8% to $164 million.
The company, which makes turbochargers and engine components, anticipates its revenue this year will increase by about 13%-18%.
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