USA: Federal-Mogul Reports Third Quarter Results
Federal-Mogul Corporation (NYSE: FMO - news) today announced third quarter sales of $1,428 million compared to $1,584 million in 1999. In line with breakeven expectations announced by the company on September 19, Federal-Mogul earned $1 million or $.01 per share from operations for the quarter, compared to $78 million or $1.01 per share from operations in 1999. Third quarter earnings per share from operations exclude restructuring and impairment charges in 2000, and integration costs and impairment charges in 1999. After these charges, the company reported a loss of $.12 per share compared to earnings of $.91 per share in 1999.
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