USA: Lear back in Q4 black for 2002
Interior systems supplier Lear Corporation Lear posted net sales of $US3.8 billion, operating income of $246.8 million and net income of $118.0 million, or $1.76 per share for the fourth quarter of 2002. In contrast, for the fourth quarter of 2001, Lear reported net sales of $3.4 billion, operating income of $68.6 million and net loss of $48.8 million, or $0.76 per share. Net sales and operating income for the fourth quarter rose 10% and 13%, respectively, compared with the year-ago adjusted results, reflecting higher vehicle production in North America, the addition of new business globally and a stronger euro, partially offset by lower Western European production and platform mix.
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