Mexican Media Brands
TRW Hikes Revenue Outlook Despite 27% Profit Slide
TRW Automotive Holdings Inc. says higher taxes and spending on expansion shrank its first-quarter income to $206 million from $281 million in the same period of 2011.
#economics
Share
TRW Automotive Holdings Inc. says higher taxes and spending on expansion shrank its first-quarter income to $206 million from $281 million in the same period of 2011.
Operating income dropped 11% to $331 million because of weaker product mix and steeper raw material costs, according to the company.
Revenue rose 2% to $4.2 billion in the latest three-month period. TRW says stronger demand for its safety systems and higher North American volume were mostly offset by unfavorable exchange rates and lower sales in Europe.
TRW retired $48 million in debt during the quarter, thus bringing total debt on March 31 to an all-time low of $1.5 billion.
The company raised its full-year revenue estimate to $16.3 billion-$16.6 billion from its previous outlook of $16 billion-$16.4 billion. TRW says it boosted its earlier forecast of vehicle output by 6% to 14.7 million units in North America and 3% to 18.9 million units in Europe.
RELATED CONTENT
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .
-
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.