(RTTNews) - Automotive supplier TRW Automotive Holdings Corp. (TRW: News ), Wednesday reported a profit for the third quarter compared to a loss last year, helped by lower restructuring and fixed asset impairment charges. In addition, the company also raised its sales outlook for fiscal 2009. Following the news, the company's shares gained more than 7% in intra-day trading.

The Livonia, Michigan-based company posted GAAP net earnings attributable to TRW of $56 million or $0.50 per share, compared to a net loss of $54 million or $0.53 per share in the prior year quarter.

Results for the latest quarter included restructuring and fixed asset impairment charges of $24 million, compared to $32 million last year.

Excluding items, net earnings were $76 million or $0.68 per share, compared to a net loss of $22 million or $0.22 per share in the year-ago quarter.

On average, 8 analysts polled by Thomson Reuters expected the company to report earnings of $0.16 per share for the third quarter. Analysts' estimates typically exclude special items.

Third quarter sales declined 13.5% to $3.11 billion from $3.59 billion in the same quarter last year hurt by lower sales in most geographic regions resulting from reduced vehicle production volumes. Five analysts had a consensus revenue estimate of $2.87 billion for the third quarter.

During the quarter, the company strengthened its capital structure by completing a public offering of 16.1 million shares of common stock. The offering provided $269 million of net proceeds to the company, which was used to reduce debt.

For the nine-month period of 2009, TRW reported a GAAP net loss attributable to TRW of $86 million or $0.82 per share, compared to net earnings of $167 million or $1.63 per share in the previous year period.
Excluding special items, net loss was $31 million or $0.30 per share, compared to net earnings of $228 million or $2.23 per share in the prior year period.

Sales for the period declined 32.4% to $8.23 billion from $12.18 billion in the year-ago period.

Looking ahead, for the fourth quarter, TRW anticipates sales of about $3.2 billion. Street estimates revenue of $3.00 billion for the fourth quarter.

For the full-year 2009, the company now expects sales to be about $11.4 billion, up from its previous expectation of $10.5 billion to $10.9 billion. Analysts project revenue of $10.95 billion for the year.

The company currently expects full year production of 8.6 million units in North America and 16.3 million units in Europe. Earlier, the company estimated production outlook of 8.0 million units in North America and 16.4 million units in Europe

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