Date: 2013-08-01

Federal-Mogul Corp. Cost-cutting Improves Third-quarter Earnings

Federal-Mogul Corp. announced Thursday its third-quarter income almost tripled as cost-cutting efforts and an income tax benefit offset falling sales.

The company has reduced its work force by 11,000 employees, or 22 percent, under its restructuring plan, ending the quarter with fewer than 39,000 workers.

Federal-Mogul earned $10.4 million, or 10 cents per share, during the three months ended Sept. 30. That's compared with a profit of $3.6 million, or 4 cents per share, in the same quarter last year. Sales fell 18 percent to $1.38 billion.

Federal-Mogul has a bearings plant in Greenville and a piston-ring plant in Sparta.

Previous: Timken has Third-quarter Loss
Next: SKF India's Q3 Net Sales up 9.2% at Rs 412.8 cr

Hot Products:

Product Model	Inside Diameter	Outside Diameter	Thickness
7017DF KOYO	85	130	44
HAR017CDF KOYO	85	130	44

【TradeBearings News Statement】

1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"TradeBearings".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.