Second quarter 2006 sales at BorgWarner were $1,168.7m, up 5% from $1,111.4m in second quarter 2005.
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Net income was $70.2m, or $1.21 per share, compared with $35.9m, or $0.63 per share a year previously.
For the first half of 2006, sales were $2,323.9m, up 6% from $2,194.9m.
Net income was $131.5m, or $2.27 per share, compared with $113.5m, or $1.99 per share.
“We operate in a tough industry environment but continue to deliver solid results,” said BW chairman and CEO Tim Manganello in a statement.
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By GlobalData“Because of our presence in growing markets, such as Korea, India and China, as well as our relationships with emerging auto industry leaders, we expect to continue to outpace industry growth.”
BW has revised its 2006 full year guidance range to $4.35 to $4.60 per share, at the high end of the previous $4.22 to $4.57 per share.
“While we have moved our guidance to the higher end of the previous range, we remain cautious concerning the second half of the year,” Manganello said. “Market share shifts and continued weakness in sport-utility and light truck sales continue to create uncertainty in North America.
“Strong demand for our products in the rest of the world will drive our results. We also expect to maintain operating margins in 2006 despite continued raw material and energy cost increases, rising health care costs and the costs related to global expansion.”
