SOUTHFIELD,
Mich. -- For the
third quarter of 2008, Lear reported net sales of $3.1 billion and a pretax
loss of $77.3 million, including restructuring costs of $45.8 million. This
compares with net sales of $3.6 billion and pretax income of $60.1 million, including
restructuring costs of $37.3 million and other special items of $8 million, for
the third quarter of 2007.
Net loss
was $98.2 million, or $1.27 per share, for the third quarter of 2008 as
compared with net income of $41 million, or 52 cents per share, for the third
quarter of 2007.
Lear
said the decline in net sales for the quarter primarily reflects a significant
reduction in production of our key platforms in North America and Europe,
offset partially by favorable foreign exchange.
