Federal-Mogul Corp. (FDML: Quote) reported a drop in first-quarter 2012 net income attributable to the company to $32 million or $0.32 per share from $51 million or $0.51 per share a year ago.
However, total sales were $1.8 billion, up 2% versus last year, reflecting 5% growth in constant dollars, partially offset 3% by weakness of international currencies, primarily the euro, against the U.S. dollar. Original equipment sales climbed 8% to $1.2 billion, the highest ever first quarter level.
The company said the quarterly results reflected strong global OE customer sales and stable aftermarket volumes.
by RTT Staff Writer
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