BorgWarner has reported Q3 earnings of $US1.07 per share. Excluding favourable tax adjustments, earnings were $0.99 per diluted share, up 25% from $0.79 per diluted share in Q3 2004.
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Sales of $1,051 million were up 25% from Q3 2004 or up 11% excluding the Beru acquisition.
Sales outside the US grew 22% over Q3 2004, excluding Beru and currency impact.
Despite a difficult market environment, the company intends to keep its full-year guidance at the lower end of $4.27 to $4.32 per diluted share and is projecting a projected 15% to 20% earnings per share growth rate for fourth quarter 2005.
For the first nine months of 2005, sales were $3,245.8 million, up 23% from $2,636.1 million a year ago. Excluding Beru, sales for the first nine months of 2005 were up 9%.
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By GlobalDataNet income in the quarter was $61.4 million, or $1.07 per share, compared with $44.8 million, or $0.79 per share in Q3 2004. For the first nine months of 2005, net income was $175.0 million, or $3.05 per share, compared with $150.6 million, or $2.67 per share in 2004.
