Federal-Mogul net jumps on record sales
Jul 29, 2008 | 10:51 AM
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Fresh out of bankruptcy protection and under the control of billionaire investor Carl Icahn, auto parts supplier Federal-Mogul Corp. posted second-quarter net income of $89.6 million, up from just $3.9 million in the same period last year on sales that climbed 13.1 percent to a record $2 billion.
FEDERAL-MOGUL CORP.(in thousands except per share) 200820072nd qtr. ended June. 30Net sales$1,995,200$1,763,400Net income89,6003,900Per share0.890.046 months ended June 30Net sales$3,854,400$3,479,900Net income58,1008,500Per share0.580.09The Southfield, Mich.-based company posted first-half net income of $58.1 million vs. $8.5 million a year earlier on a 10.8-percent increase in sales to more than $3.85 billion.....
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