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Federal-Mogul 1st-qtr profit falls on higher costs
April 24 |
April 24 (Reuters) - Auto parts supplier Federal-Mogul Corp posted a fall in quarterly profit, hurt by higher costs.
Net income attributable to the company fell to $32 million, or 32 cents per share, from $51 million, or 51 cents per share, a year ago.
Revenue rose 2 percent to $1.76 billion.
Selling, general and administrative costs rose 7 percent to $189 million.
Analysts had expected the company to earn 50 cents per share, on revenue of $1.81 billion, according to Thomson Reuters I/B/E/S.
Shares of the company closed at $14.41 on Monday on the Nasdaq.
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