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Federal-Mogul Q4 net sales up 5%

ABR Staff Writer Published 29 February 2012

Federal-Mogul, a supplier of powertrain and safety technologies, has reported net sales of $1.65bn for the fourth quarter ended 31 December 2011, an increase of 5% compared to $1.58bn for the same period last year.

The company posted gross margin $247m for the fourth quarter of 2011 compared to $240m for the year ago period.

Net income for the fourth quarter of 2011 was $51m compared to $38m for the same period in 2010.

The company has posted an operational EBITDA of $158m or 9.5% of sales for the fourth quarter of 2011, compared to $170m or 10.7% of sales for the same period last year.

For the full year of 2011, the company has reported net sales of $6.9bn, an increase of 11% compared to $6.21bn it reported in 2010.

Federal-Mogul president and CEO Jose Maria Alapont said the company's strategy for sustainable global profitable growth is based on leading technology and innovation, competitive cost and quality products and services.

"Federal-Mogul achieved an 18% global OE revenue growth rate in 2011, exceeding the global market growth rate of 5%, with stable global aftermarket sales, including strong growth in Europe, up 6%, China, up 18% and India, up 12%," Alapont said.

"Federal-Mogul in 2011 achieved record OE sales while simultaneously managing more than 100 new customer program launches with new Federal-Mogul technologies."