BorgWarner swings to profit, aided by new business

Newswire

CHICAGO, April 22 (Reuters) - Auto parts maker BorgWarner Inc. on Tuesday reported a strong quarterly profit, versus a year-ago loss, helped by new business and solid demand for its products in Europe. BorgWarner, which makes turbochargers, transmissions and all-wheel drive systems, said it earned $44.2 million, or $1.65 a share, in the first quarter, reversing a year-ago loss of $237.5 million, or $8.90 a share, that included a write-down for a goodwill accounting change. Sales rose 22 ...

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