TRW earnings up 72%

Manufacturing News, Source : TheManufacturer.com
Published : 19 Jul 2002 19:29

TRW announced an increase of 72% to $133 million in operating earnings from continuing operations for the second quarter.

Comparatively, operating earnings for the second quarter of 2001 were $79 million. In addition, strong cash flow reduced TRW’s debt by nearly $200 million for the second quarter.

“The positive effects of increased volume in the North American automotive market, the strengthening defense and systems sectors, productivity improvements company wide, and lower debt levels contributed to improved earnings,” said Phillip Odeen, TRW chairman. “For the past several months, TRW has focused its attention on a comprehensive strategic review aimed at enhancing shareholder value. That effort culminated with the announced sale of our aeronautical systems business and the merger agreement with Northrop Grumman. At the same time, we have delivered on our earnings commitments, generated strong cash flow, and continued to deleverage the balance sheet.”

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