US: TRW posts better than expected Q4 profit
TRW has posted better than expected quarterly results. Net income in the fourth quarter was $419m compared with $425m in the same quarter last year.
The company’s full year 2012 sales grew to a record $16.4bn, an increase of 7% compared to 2011 excluding the impact of currency movements and divestitures. For the year, GAAP net earnings were $1,008m, or $7.83 per diluted share. Excluding special items, the company reported full year 2012 net earnings of $788m, or $6.14 per diluted share, which compares to net earnings of $971m, or $7.42 per diluted share in 2011.
“2012 was a successful year for TRW as the company delivered solid financial performance, as evidenced by our fourth quarter and full year results reported today. We also continued to execute our significant growth strategy and initiated a $1 billion share repurchase program,” said John C. Plant, Chairman and Chief Executive Officer.
“TRW’s success and ability to build on its positive momentum, despite the challenges the automotive industry faced in Europe during the year, demonstrate the company’s resilience and strong market position.”
“TRW enters 2013 from a position of strength. Increased demand for the company’s innovative products combined with our leading customer, product and regional diversification will help offset the difficult economic environment and lower vehicle production levels that are expected in Europe,” added Mr. Plant. “Remaining focused on executing the company’s growth strategy, while mitigating the negative impact related to the industry challenges in Europe, especially in the first half of the year, are key objectives in 2013.”
For some time, electric power steering (EPS) has dominated the mass-market in a number of major car-producing regions, helped by its ability to improve fuel economy and save designers valuable space. ...
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
As we enter the next chapter of occupant restraints - which focuses more on individual safety for different occupants or crash configurations - Matthew Beecham talked with senior executives of TRW Aut...
This QUBE report from just-auto provides a comprehensive overview of the global automotive safety systems sector, major suppliers, top 14 markets, technology trends and market size forecasts. Use this...
Active safety systems and driver assistance technologies are a high-growth area of the automotive business. Global OE fitment levels for driver assistance systems (DAS) are forecast to rise sharply, l...
- ANALYSIS: Hyundai axes Veloster, goes after Toyota
- Review of 2014 (1)
- ANALYSIS: Future models for North America - Part 2
- ANALYSIS: Future models for North America - Part 1
- THE WEEK THAT WAS: Bleak Christmas ahead for some
- JLR research removes blind spots
- Genk mayor organises "loudest shift" as Ford exits
- Bye, Chrysler, hello FCA US
- Punch Genk offer "missed opportunity": Mayor
- Volvo rethinks its way to market