NEW YORK (Thomson Financial) - TRW Automotive Holdings Corp. reported second-quarter net earnings of $127 million, or $1.24 a share, up from $97 million, or 94 cents a share, in the same period a year ago.
The mean estimate of analysts surveyed by Thomson Reuters was for earnings of 74 cents a share.
Sales for the quarter ending June 27 rose to $4.45 billion from last year's $3.75 billion, topping analyst forecasts of $4.33 billion, boosted by higher customer vehicle production in Europe and China, strength in sales of lower margin modules and favorable currency translation.
The Livonia, Mich. safety systems company said it now expects 2008 earnings of $2.40 to $2.70 a share on revenue of $16.4 billion to $16.8 billion, compared with analyst projections for earnings of $2.24 a share and revenue of $16.55 billion.
The stock closed Wednesday at $17.67. Tomi Kilgore tk1 COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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