Tenneco Automotive has reported third quarter net income of $US6 million, or 14-cents per share, versus $4 million, or 10 cents a share in third quarter 2003.
Go deeper with GlobalData
Sales generated record third quarter revenue of $998 million, versus $914 million a year ago. Favourable currency exchange rates impacted revenue by $33 million.
The company’s gross margin in the quarter was 20% compared with 20.5% in Q3 2003. As it has in the past, the company anticipates achieving price recovery from its customers to help offset increased steel costs.
“While we have taken effective steps to help offset some of the price increases year-to-date, this remains our greatest challenge going forward. In addition to our focus on growth, we are working to lower our cost of doing business in order to maintain our momentum in spite of the materials cost burden,” said a Tenneco spokesman.
“We remain cautious about the fourth quarter and into 2005,” he added.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
