UPDATE 1-Federal-Mogul profit beats expectations


* EPS 49 cents vs Wall St expectations 32 cents * Revenue rises 23 percent to $1.6 bln DETROIT July 29 (Reuters) - Auto-parts maker Federal-Mogul Corp reported a better-than-expected quarterly profit on Thursday, as the global auto industry continues a slow recovery. Net income rose to $49 million, or 49 cents per diluted share, up from from $7 million, or 3 cents per share a year earlier. Analysts on average had expected Federal-Mogul to earn 32 cents per share. The company ...

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