USA: TRW Comments On Expected Third Quarter Results
TRW Inc. (NYSE:TRW - news) announced today that it expects third quarter earnings per share to be below current consensus estimates of $1.05 per share. The shortfall is primarily the result of a further weakening of foreign currencies, production cutbacks announced by Ford, weaker than expected revenues from the company's space and electronics business, increased investments in technology bank initiatives, and a higher level of interest expense. As a result, earnings per share are expected to be reduced by approximately $0.19 to $0.24 in the third quarter. These issues may have a continuing impact on the fourth quarter.
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