Auto supplier TRW's 3Q profit rises 21 percent

TRW Automotive 3Q earnings up 21 percent on rising demand for safety systems

Associated Press

LIVONIA, Mich. (AP) -- NEWS: TRW Automotive Holdings Corp.'s third-quarter net income rose 21 percent, helped by higher demand for the auto parts supplier's safety systems and increasing auto production in the U.S. and China.

Adjusted profit and revenue exceeded Wall Street's expectations, and the company raised its sales guidance.

DETAILS: Third-quarter revenue rose on increased demand for radar and camera-based safety systems, as well as other safety devices made by the company.

TRW Automotive also added $1 billion to its share repurchase program, bringing it to $2 billion. Buying back stock can boost a company's earnings per share.

NUMBERS: For the three months ended Sept. 27, the Livonia, Mich., company made $197 million, or $1.60 per share. That compares with $163 million, or $1.28 per share, in the same months a year ago.

Excluding one-time items, TRW Automotive made $1.52 per share. Revenue rose 6 percent to $4.21 billion.

Analysts polled by data provider FactSet expected earnings of $1.47 per share on revenue of $4.16 billion.

FUTURE: TRW Automotive now expects sales of $17.1 billion this year, up from a previous forecast of $16.8 billion to $17 billion.

STOCK: Shares of TRW Automotive added 11 cents to $78.76 in morning trading Tuesday. The stock had gained about 46 percent this year.

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