BorgWarner made revenue and operating profit gains in the first quarter.

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Dow Jones said the company reported net income of $61.3m, or $1.06 a share, a penny above the Thomson First Call analyst consensus estimate. First-quarter net income includes a $2.9m, or 4 cents a share, impact of an accounting change.


First-quarter revenue was $1.15bn, up from $1.08bn last year and net income in the quarter was down from last year’s $77.6m, or $1.36 a share, but that figure included special gains of $21.9m, or 38 cents a share, the report said, adding that, without those gains, 2005 first-quarter net income was 98 cents a share.


BW chairman and chief executive Tim Manganello noted in a statement cited by the news agency that BorgWarner’s revenue was up 7%, while worldwide vehicle production was up only 4%.


Dow Jones said the company’s engine group saw sales up 9% and earnings before interest and taxes up 30% as demand picked up for its turbochargers, timing systems and emissions products from European and Asian auto makers.

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But the drivetrain group, which makes transmission controls, saw its earnings before interest and taxes dip 12% despite a 2% increase in sales, hurt by lower production of trucks and SUVs by US automakers, the report added.


Dow Jones said the company reiterated its 2006 earnings forecast of $4.22 to $4.57 a share while analysts polled by Thomson First Call are expecting $4.47 a share.