Lear’s Operating Income Improves

Lear Corp.'s net income for the fourth quarter of 2013 plunged to $73 million from $882 million in the same period of 2012, when the company booked $767 million in tax benefits.

But the company's operating profit for October-December grew 9% to $208 million. Revenue rose 14% to $4.3 billion.

For the full year, Lear's net income plunged 66% to $431 million, but operating profit increased to $839 million from $763 million. Revenue climbed 11% to $16.2 billion.