Autoliv Inc. (ALV) reported that its fourth-quarter net earnings were $63.5 million, compared to a loss of $37.7 million in the same quarter last year. Net income attributable to controlling interest was $61.3 million, compared to a loss of $38.4 million last year. On a per share basis, net income was $0.68, compared to a loss of $0.55 in the year ago quarter.
On a non-GAAP basis, net earnings were $127.4 million, compared to a loss of $11.5 million in last year. On a per share basis, net income was $1.39 compared to a loss of $0.17 in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.80 per share. Analysts' estimates typically exclude special items.
Total net sales for the quarter were $1.67 billion, compared to $1.19 billion in the prior year quarter. Eight analysts had consensus revenue estimate of $1.59 billion for the quarter.
For 2010, consolidated net sales are expected to grow by more than 70% for the first quarter and by 15-20% for the full year. An operating margin of approximately 8.5% is expected for the first quarter and a full-year operating margin in line with Autoliv's long-term target range of 8-9%. Twelve analysts have consensus revenue estimate of $5.81 billion for fiscal 2010.
For comments and feedback: editorial@rttnews.com