Reuters logo
Lear revenue rises due to strong demand for auto parts in U.S.
January 31, 2014 / 12:21 PM / 4 years ago

Lear revenue rises due to strong demand for auto parts in U.S.

(Reuters) - Lear Corp (LEA.N) 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.

The sign in front of the headquarters of Lear Corp., an auto parts maker, is seen in Southfield, Michigan February 9, 2007. REUTERS/Rebecca Cook

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 December 31.

Revenue rose to $4.26 billion from $3.72 billion a year earlier.

Reporting by Mridhula Raghavan in Bangalore; Editing by Savio D'Souza

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below