SOUTHFIELD, Mich., Jan 27 (Reuters) - Lear Corp. , the world's fifth-largest automotive parts supplier, said on Monday its quarterly earnings rose sharply, boosted by higher vehicle production in North America.
Lear, a maker of seating, instrument panels, electrical components and other interior systems, posted net earnings in the fourth quarter of $118.0 million, or $1.76 a share. The Southfield, Michigan-based company had recorded a net loss of $48.8 million, or 76 cents a share, in the fourth quarter of 2001 after a large restructuring charge.
Sales rose 10 percent to $3.76 billion from $3.41 billion.
Analysts had expected a profit of $1.63 a share, within a range of $1.56 to $1.68, according to Thomson First Call.
The company also said it expected first-quarter earnings per share in a range of 90 cents to $1.00. It forecast full year earnings per share in a range between $5.20 and $5.40 on sales of $15 billion.