Tenneco quarterly earnings fall

2008年 7月 31日 星期四 20:13 BJT
 

DETROIT, July 31 (Reuters) - Auto parts maker Tenneco Inc (TEN.N: 行情) said on Thursday that net profit fell, pressured by production cuts in North America by customers and the cost of adding a new customer in the replacement parts business.

Net income fell to $13 million, or 26 cents per share, in the second quarter, from $41 million, or 85 cents per share, a year earlier. Net sales and operating revenue dipped to $1.65 billion from $1.66 billion.

Tenneco said it earned 71 cents per share excluding restructuring costs, costs for changing over a new customer in the replacement parts market and a one-time tax adjustment. (Reporting by David Bailey, editing by Dave Zimmerman)

 
 

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