US: BorgWarner profitable in third quarter

By just-auto.com editorial team | 28 October 2009

BorgWarner has reported third quarter net earnings of $17.2m, or $0.15 per diluted share, compared with a loss of $130.4m, or $1.12 a share, in third quarter 2008.

Operating income was $27.5m versus an operating loss of $103.9m in Q3 2008.

"The sequential gain in income from second quarter 2009 is attributable to continuous improvement in operational efficiency in combination with higher sales," the driveline specialist said in a statement.

Sales were $1,027.8m, down 22.0% compared with $1,316.9m in the third quarter 2008.

For the first nine months of 2009, sales were $2,763.5m, down 36.2%.

Net loss in the first nine months of 2009 was $25.7m, or $0.22 per share compared with income of $45.8m, or $0.39 per share, in the first nine months of 2008.