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TRW posts strong profit, boosts full-year sales outlook

DETROIT, April 30 (Reuters) - Auto parts supplier TRW Automotive Holdings Corp on Tuesday posted a stronger-than-expected quarterly profit and improved its full-year sales outlook, raising its forecasts for industry vehicle production in North America and Europe.

Net income in the first quarter fell 21 percent to $162 million, or $1.29 a share, compared with $206 million, or $1.59 a share, in the year-earlier period.

Excluding one-time items, the company earned $1.51 a share, 7 cents stronger than what analysts polled by Thomson Reuters I/B/E/S had expected.

Revenue edged up slightly to $4.21 billion, above the $4.13 billion analysts had expected.

Livonia, Michigan-based TRW, which makes braking systems, seat belts and airbags, said it expects full-year sales in the range of $16.6 billion to $16.9 billion. That was up from its February forecast of $16.4 billion to $16.7 billion.