AURORA, Ontario — Magna International Inc. reported financial results for the second quarter and six months ended June 30, 2010.

The company posted sales of $6.1 billion for the second quarter ended June 30, 2010, an increase of 63 percent from the second quarter of 2009. This higher sales level was a result of increases in the company's North American, European and Rest of World production sales, complete vehicle assembly sales and tooling, engineering and other sales.

During the second quarter of 2010, North American and European average dollar content per vehicle increased by 27 percent and 8 percent, respectively, each compared to the second quarter of 2009. In addition, North American and European vehicle production increased 75 percent and 13 percent, respectively, each compared to the second quarter of 2009.

Complete vehicle assembly sales increased 39 percent to $590 million for the second quarter of 2010 compared to $423 million for the second quarter of 2009, while complete vehicle assembly volumes increased 59 percent to approximately 22,400 units.

During the second quarter of 2010, operating income was $373 million, net income was $293 million and diluted earnings per share were $2.59, increases of $610 million, $498 million and $4.42, respectively, each compared to the second quarter of 2009.

During the second quarter ended June 30, 2010, the company generated cash from operations of $463 million before changes in non cash operating assets and liabilities, and generated $74 million in non cash operating assets and liabilities. Total investment activities for the second quarter of 2010 were $187 million, including $164 million in fixed asset additions and $23 million in investments and other assets.

The company posted sales of $11.6 billion for the six months ended June 30, 2010, an increase of 59 percent from the six months ended June 30, 2009. This higher sales level was a result of increases in the company's North American, European and Rest of World production sales, complete vehicle assembly sales and tooling, engineering and other sales.

During the six months ended June 30, 2010, vehicle production increased 71 percent to 6 million units in North America and 22 percent to 6.9 million units in Europe, each compared to the first six months of 2009.

Also during the first six months of 2010, the company's North American and European average dollar content per vehicle increased 15 percent and 11 percent respectively, each compared to the first six months of 2009.