UPDATE 2-Magna back in profit as auto production recovers

Newswire

* Q4 EPS $0.88 vs loss $0.62/shr year ago * Revenue 22 pct higher at $6.6 billion * Increases dividend 39 pct * Repeats January sales forecast for 2011 (Adds details, background) VANCOUVER, Feb 23 (Reuters) - Magna International Inc returned to profit in the fourth quarter, the auto parts maker reported on Wednesday, as global vehicle production and sales continued to recover. Magna reported net income of $216 million, or 88 cents a share in the quarter ended Dec. 31, compared with ...

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