SOUTHFIELD, Mich. – Lear Corp. has reported financial results for the fourth quarter and full year 2013.
 
For the fourth quarter of 2013, Lear reported sales of $4.3 billion, core operating earnings of $208 million, net income of $73 million and adjusted earnings per share of $1.55. This compares with sales of $3.7 billion, core operating earnings of $191 million, net income of $882 million and adjusted earnings per share of $1.48 in the fourth quarter of 2012. Net income in the fourth quarter of 2012 included tax benefits of $767 million, primarily reflecting the reversal of a valuation allowance on our deferred tax assets in the United States.
 
For the full year 2013, Lear reported sales of $16.2 billion, core operating earnings of $839 million, net income of $431 million and adjusted earnings per share of $5.90. This compares with sales of $14.6 billion, core operating earnings of $763 million, net income of $1.3 billion and adjusted earnings per share of $5.49 in 2012. Net income in 2012 included tax benefits of $764 million, primarily reflecting the fourth quarter reversal of a valuation allowance on our deferred tax assets in the United States.