TRW Automotive Holdings has announced second quarter net earnings of $97m or $0.94 per share, up from $91m and $0.88 a share a year ago, on sales up 8.5% to $3.8bn.
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Second quarter results included $8m of costs related primarily to refinancing credit facilities.
Q2 operating income was $205m (vs $201m) due to higher product volumes, cost and efficiency savings, pension cost cuts and similar offset by lower pricing, higher commodity prices, a negative mix of products sold and “unfavorable product-related settlements”. Restructuring and asset impairment expenses in the 2007 period were flat at $11m.
First-half sales rose 6.8% to $7.3bn and operating income was $380m, down from $428m in 2006 for reasons that included a roof collapse at a facility in Brazil.
