Federal-Mogul has posted a second-quarter net loss of US$5m, compared to a US$56m profit in Q2, 2013, although it incurred US$30m in restructuring charges and US$2m in impairment costs during the period.
Second quarter net sales rose 7% to US$1.87bn, while operating income increased 11% to US$10m.
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In addition, as a result of the refinancing of the company’s debt structure, Federal-Mogul recorded a loss of US$24m in the quarter related to the write-off of the unamortised debt discount on previous debt.
Excluding these two items, adjusted net income from continuing operations in the second quarter of 2014, was US$50m.
