LAKE FOREST, IL — Tenneco Automotive has reported a 25 percent increase in net income and a 19 percent increase in earnings per diluted share for the second quarter. The company reported second quarter net income of $30 million, or 69-cents per diluted share, versus net income of $24 million, or 58-cents per diluted share, in the second quarter of 2003.
The company also reported a 15 percent improvement in EBIT (earnings before interest, taxes and minority interest) to $76 million over second quarter 2003 EBIT of $67 million. EBITDA (EBIT before depreciation and amortization) in the quarter increased 12 percent to $120 million compared with $108 million a year earlier.
Tenneco Automotive reported its highest ever quarterly revenue of $1.114 billion compared with $998 million in second quarter 2003, driven by higher volumes on top-selling vehicle platforms worldwide and strengthening aftermarket sales in North America and South America. Favorable currency exchange rates benefited revenue by $27 million.
For more information, visit the company’s Web site: www.tenneco-automotive.com.
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