Federal-Mogul Reverses To Profit In Q1

(RTTNews) - Federal-Mogul Holdings Corp. (FDML), Wednesday reported profit for the first quarter of 2014, compared with a loss last year. This growth was backed by higher sales volumes in the Powertrain division, as well as continued improvements in operational performance.

Net Income attributable to Federal-Mogul was $40 million or $0.27 per share compared with a loss of $34 million or $0.34 per share, last year. Operational EBITDA for the quarter was up 20 percent to $166 million form $138 million, last year.

On average, 2 analysts polled by Thomson Reuters expected earnings per share of $0.35 per share for the quarter.Analysts'estimates typically exclude one-time items.

Driven by strong performance in the powertrain division, the company's net sales for the quarter rose 7 percent to $1.8 billion from $1.65 billion during the prior-year period. Analysts estimated revenues of $ 1.81for the quarter.