UPDATE 1-Lear profit rises, ups 2011 forecast


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Oct 28 (Reuters) - Auto parts maker Lear Corp posted a higher quarterly profit and raised its full-year forecast as it expects industry output to increase further.

Lear, which makes seating and electrical power management systems, expects 2011 sales of $13.8-$14.1 billion and adjusted earnings of $5.05 to $5.35 a share.

It had earlier expected adjusted earnings of $4.95-$5.30 a share and revenue of $13.4-$13.8 billion for the year.

It expects industry vehicle production of 12.9 million units in North America, up 2 percent from its prior outlook, and 18.1 million units in Europe, up 1 percent from earlier estimates.

The company's third-quarter net income rose to $100.7 million, or 95 cents a share, from $95.3 million, or 85 cents a share, a year ago.

Quarterly sales jumped 23 percent to $3.46 billion. (Reporting by A. Ananthalakshmi in Bangalore; Editing by Gopakumar Warrier)



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