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U.S. Drives Growth for Lear
Operating results for Lear Corp. surged 35% to $280 million in the fourth quarter last year, as 14% growth in automotive seating sales in North America hiked revenue 7% to $4.5 billion.
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Operating results for Lear Corp. surged 35% to $280 million in the fourth quarter last year, as 14% growth in automotive seating sales in North America hiked revenue 7% to $4.5 billion.
Net income for the period zoomed to $262 million from $73 million in September-December 2014.
Full-year sales for the Southfield, Mich.-based supplier climbed 9% to $17.7 billion, and net income soared 56% to $672 million.
Lear expects its sales this year will reach $18.5 billion-$19 billion, aided by the company's $850 million purchase of leather supplier Eagle Ottawa LLC earlier this month. The supplier forecasts adjusted net income of $720 million-$755 million in 2015.
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