LAKE FOREST, Ill. -- Tenneco has reported a fourth quarter net loss of $18 million, or 31 cents per diluted share. The company said this net loss was primarily due to re-financing costs and tax charges in the quarter.

Fourth quarter 2009 net income was $17 million, or 32 cents per diluted share, and adjusted net income was $7 million, or 13 cents per diluted share.

Revenue increased to a fourth quarter record high of $1.577 billion, compared with $1.322 billion a year ago, driven by higher global aftermarket sales and strong OE production volumes.

“We delivered strong fourth quarter and full-year results including double-digit increases in OE and aftermarket revenue and record-high earnings. Our earnings and cash performance drove our net debt to below $1 billion for the first time in our history,” said Gregg Sherrill, chairman and CEO, Tenneco. “Going forward, our goal is to leverage our significant top-line growth by staying focused on our operations including executing on new business launches, while continuing to generate cash.”

As of Dec. 31, Tenneco’s debt net of cash was $990 million, down from $1.053 billion at the end of 2009.

Tenneco reported annual revenue of $5.937 billion, up 28 percent from $4.649 billion in 2009. The company says OE production volume increases globally, strong aftermarket sales and successfully launching new light and commercial vehicle programs drove the company’s revenue growth in 2010.

The company reported net income of $39 million, or 63 cents per diluted share, up from a net loss of $73 million, or $1.50 per diluted share, in 2009.

“We view 2011 with optimism, given a stronger OE production environment globally and the aftermarket continuing its solid performance. In addition to leveraging higher production volumes, we are launching new commercial vehicle emission control business throughout the year,” said Sherrill. “Our performance this year will be driven by execution on our revenue growth opportunities, while continuing to drive operational excellence.”