BorgWarner cuts 2012 outlook on global slowdown

Newswire

DETROIT, July 26 (Reuters) - BorgWarner Inc, an automotive supplier of powertrain technology, reported lower net income for the second quarter and cut its full-year earnings and revenue outlook on Thursday, citing the slowdown in the global economy. The company reported net income of $121 million, or $1 per share, down from $162 million, or $1.31 per share. Excluding one-time items, BorgWarner earned $1.36 per share. The parts supplier also cut ...

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