TRW has revealed fourth quarter 2014 financial results with sales of US$4.3bn, a decrease of 3% compared to the same period a year ago.
The company reported GAAP fourth quarter net losses of US$360m, although it posted record fourth quarter net earnings of US$268m.
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Full-year 2014 sales grew 1% to US$17.5bn, while GAAP net earnings were US$293m.
“2014 was a highly successful year for TRW as the company set new records for sales and adjusted earnings per share while not only continuing to invest for future growth, but also addressing the level of our legacy pension obligations,” said TRW chairman and CEO, John Plant.
“In addition, the agreement signed with ZF during the third quarter provides significant benefits for our shareholders who will receive full and certain value for their shares, as well as for our employees, customers and communities all of which will reap the benefits of being part of a larger, more diversified global organisation.”
