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TRW’s Second-Quarter Profit Rises 7%
TRW Automotive Holdings Corp. reports net earnings of $265 million in April-June compared with $248 million in the same period in 2013.
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TRW Automotive Holdings Corp. reports net earnings of $265 million in April-June compared with $248 million in the same period in 2013. Revenue advanced 2% to $4.6 billion.
The Livonia, Mich.-based supplier credits those improvements to greater vehicle production in its key markets and growing demand for its safety technologies.
Second-quarter operating income was flat at $383 million, and cash flow dipped 5% to $257 million.
TRW increased its forecast for vehicle production to 17 million from 16.8 million in North America and to 19.9 million from 19.6 million in Europe. The company expects its full-year sales will range between $17.5 billion and $17.7 billion, including third-quarter results of $4.2 billion. TRW's revenue totaled $17.4 billion in 2013.
CEO John Plant has declined to comment on the preliminary offer from ZF Friedrichshafen AG to purchase the company. He notes that TRW has no timetable for completing its review of ZF's bid.
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