AUBURN HILLS, Mich. (AP) _ BorgWarner Inc. (BWA) on Thursday reported fourth-quarter net income of $230 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Auburn Hills, Michigan-based company said it had net income of $1.10. Earnings, adjusted for one-time gains and costs, were $1.21 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.
The auto parts supplier posted revenue of $2.57 billion in the period, which matched Street forecasts.
For the year, the company reported profit of $930.7 million, or $4.44 per share. Revenue was reported as $10.53 billion.
BorgWarner expects full-year earnings to be $4 to $4.35 per share, with revenue in the range of $9.9 billion to $10.37 billion.
BorgWarner shares have increased 16 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 10 percent. The stock has dropped 23 percent in the last 12 months.