* Q1 pretax profit $141 mln, vs forecast $205 mln
* Earnings hit by one-off items
* Sees second-half outperformance
* Shares up 2.3 percent
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STOCKHOLM, April 27 Swedish car seatbelt and
airbag maker Autoliv stuck to 2012
forecasts after reporting a bigger than expected 41 percent drop
in quarterly earnings, saying it should outperform the global
vehicle market later this year.
"The operating margin indication remains unchanged at 10-11
percent for the full year, while the guidance for the second
quarter is an operating margin of more than 9 percent," Autoliv
said on Friday.
Autoliv, which has been able to offset weak European demand
with a pick-up in the United States and a strong China, made a
first-quarter pretax profit of $141 million, compared with a
$205 million forecast in a Reuters poll.
It said the figures were hit by costs related to aligning
production to varying levels of demand in key regions, raw
materials and research and development expenses.
It had also put aside more funds for any fines from a U.S.
anti-trust investigation launched last year. It could not give a
forecast for the anti-trust costs, saying it had so far set
aside $14.5 million.
In the first quarter, capacity shifts included a ramp-up in
production in China and North America, which led to overtime and
other extra costs.
It expected consolidated sales to rise 4 percent in 2012 and
that it would "resume its outperformance trend versus global LVP
(light vehicle production) during the third quarter".
Autoliv shares were up 2.3 percent at 449.00 crowns at 1125
(Reporting by Patrick Lannin; Editing by Dan Lalor)