Magna International operating income fell to $US155m for the third quarter ended September 30, 2006 compared to $240m a year ago.

Net income was $94m compared to $159m.

Sales rose 1% to $5.4bn as increases in European production and complete vehicle assembly was offset in part by reductions in North American production sales and tooling, engineering and other sales.

During the quarter, North American and European average dollar content per vehicle increased 1% and 18% respectively while North American and European vehicle production declined 7% and 5% respectively.

Complete vehicle assembly sales in Q3 increased 16% to $1.017bn though volumes were unchanged.

Earnings per share were $0.86 for the third quarter compared to $1.44 for Q3 2005.

Operating income for the first nine months of 2006 was $750m compared to $817m a year ago. Net income fell to $499m from $556m and earnings per share were $4.52 compared to $5.16.

Sales rose 5% to $17.8bn.

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