TRW Quarterly, Annual Profits Dip As Sales Flatten

TRW Automotive Holdings Corp. netted $419 million in the fourth quarter compared with $425 million in the same period of 2011.

Revenue edged up 1% to $4 billion. TRW says higher sales of electronic modules and rising vehicle production in China and North America were mostly offset by unfavorable exchange rates and sharply lower European auto output.

Full-year net profit dropped to $1 billion from $1.2 billion in 2011. Revenue rose 1% to a record $16.4 billion.

The company reduced its debt by $70 million to an all-time low of $1.5 billion at the end of 2012. Free cash flow fell to $333 million last year from $549 million in 2011, in part because of a 9% capital spending increase to $623 million to finance expansion.

TRW expects to generate about $4.1 billion in sales during the current quarter and $16.4 billion-$16.7 billion for all of 2013.