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BMW / TRW says Q2 net profits surge, raises 2011 sales outlook

TRW says Q2 net profits surge, raises 2011 sales outlook
DETROIT (Reuters) -- Supplier TRW Automotive Holdings Corp. today posted a stronger-than-expected quarterly profit and boosted its full-year sales outlook as customers, mostly in North America, increased vehicle production.Net income in the second quarter as the maker of safety electronics and airbags rose to $293 million, or $2.21 a share, from $227 million, or $1.78 a share, in the year-earlier quarter, according to a company statement.


Excluding one-time items, it earned $1.99 a share, above the $1.71 analysts polled by Thomson Reuters I/B/E/S had expected.


Sales rose 16 percent to $4.23 billion, above the $4.04 billion analysts had expected.


The company expects 2011 full-year sales of $16.2 billion to $16.4 billion, with third-quarter sales of $3.9 billion.


In May, TRW raised its full-year sales outlook to between $15.7 billion and $16 billion.


Analysts were expecting full-year sales of $16.06 billion and third-quarter sales of $3.82 billion.


TRW reaffirmed that it expects the auto industry's full-year production in North America to be 13 million vehicles. It boosted its outlook for Europe to 20 million vehicles from the 19.3 million it forecast in May.

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