Jan 31 Lear Corp reported a 14 percent
increase in quarterly revenue as a rise in U.S. vehicle sales
boosted demand for its car seats and electrical power systems.
Net income attributable to Lear fell to $72.8 million, or 88
cents per share, in the fourth quarter, from $881.9 million, or
$9.00 per share, a year earlier.
The year-earlier quarter included a $767 million tax benefit
from a reversal of valuation allowance related to deferred tax
assets in the United States.
Excluding items, Lear earned $1.55 per share in the quarter
ended Dec. 31.
Revenue rose to $4.26 billion from $3.72 billion a year