BorgWarner quarterly profit up 12 percent
May 1 (Reuters) - BorgWarner Inc, a maker of automotive turbochargers and emissions systems, posted a higher quarterly profit, helped by higher sales at both its engine and drivetrain businesses.
BorgWarner also raised its full-year sales growth forecast and said it now expects it to increase between 12 and 15 percent in 2014, up from its earlier forecast of 7 to 11 percent.
Net income attributable to BorgWarner rose 12 percent to $159.1 million, or 69 cents per share, in the first quarter ended March 31, from $142 million, or 61 cents per share.
Excluding one-time items, BorgWarner earned 83 cents a share. (Reporting by Mridhula Raghavan in Bangalore; Editing by Rodney Joyce)
- Tesla says in talks with BMW over car batteries, parts
- Missouri officials to reveal grand jury's decision on teen's shooting |
- Hagel, under pressure, resigns as U.S. defense secretary |
- Actor Dwight Henry eyed in New Orleans killing after arrest for theft
- Iran nuclear talks extended seven months after failing to meet deadline |
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video