Magna fourth-quarter profit falls on charges

Newswire

(All figures in U.S. dollars unless noted) TORONTO, Feb 24 (Reuters) - Magna International Inc. reported a lower fourth-quarter profit on Monday as noncash charges chipped away at earnings. Magna, a major automotive parts maker, reported a profit of $110 million, or $1.10 per share, in the quarter ended Dec. 31, down from $118 million, or $1.28 a share, for the same period a year earlier. Sales were $3.55 billion in the quarter, up 25.4 percent from $2.83 billion for the same time last ...

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