SOUTHFIELD, Mich. -- Lear Corp. has reported its financial results for the fourth quarter and full year 2010.

For the fourth quarter of 2010, Lear reported net sales of $3.2 billion. This compares with net sales of $2.7 billion and core operating earnings of $115.5 million in the fourth quarter of 2009.

For the full year 2010, Lear reported net sales of $12 billion. Core operating earnings were $627.3 million, and adjusted earnings per share were $8.83. This compares with net sales of $9.7 billion and core operating earnings of $106.8 million in 2009.

Lear said it expects 2011 net sales to be in the range of $12.6 to $13 billion and core operating earnings of $700 to $740 million.

"2010 marked a year of recovery in our mature markets; however, industry production in North America and Europe remain below historical levels,” said Bob Rossiter, Lear president and CEO. “We were able to achieve strong financial results and generate significant cash flow due to structural cost reductions and improvements in our manufacturing footprint implemented over the past several years. In addition, we completed a refinancing of our capital structure, and our balance sheet is in the best shape in our history. We continue to win new business globally and expect continued improvements in our operating performance in 2011."