Mexican Media Brands
Federal-Mogul Profit Tumbles 37%
Federal-Mogul Corp. netted $32 million in January-March this year compared with $51 million in the same period of 2011.
#economics
Share
Federal-Mogul Corp. netted $32 million in January-March this year compared with $51 million in the same period of 2011. Revenue rose 2% to $1.8 billion.
The company says its original-equipment sales in the first quarter grew 10% in North America, 3% in Europe and 13% in the BRIC countries (Brazil, Russia, India and China).
Federal-Mogul's earnings before interest, taxes, depreciation and amortization slipped 6% to $168 million. Operating profit margin shrank to 9.5% from 10.4% in the first quarter of last year.
The company attributes a $112 million cash outflow to a 30% increase in investment to boost capacity and factory efficiency. Federal-Mogul ended the quarter with $850 million cash on hand.
RELATED CONTENT
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.