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Federal-Mogul Swings to a Profit
Federal Mogul Corp. reports net income of $38 million in the third quarter of 2013 compared with an $11 million net loss in the same period last year.
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Federal Mogul Corp. reports net income of $38 million in the third quarter of 2013 compared with an $11 million net loss in the same period last year.
The global supplier of powertrain components says revenue rose 9% to $1.7 billion. Sales jumped 12% in Europe, thanks in part to its acquisition of sparkplug maker Beru from BorgWarner Inc. in July.
Third-quarter revenue rose 6% in North America and 7% elsewhere. Operating income before interest, tax and amortization grew to $147 million from $103 million a year earlier.
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