✦ LIBER ✦

Lower second quarter results for standard products

Publisher: Elsevier Science
Year: 1999
Tongue: English
Weight: 123 KB
Volume: 1999
Category: Article
ISSN: 1350-4789
DOI: 10.1016/s1350-4789(99)90200-3

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✦ Synopsis

Strong 1998 results for Federal-Mogul

FederaI-Mogul's financial yearend results have been released and show a revenue increase of 64% to US$4.5 billion, indicating continued profitable growth in 1998.

The year cash flow from operations was US$167 million, with the company generating US$13 million in economic value added (EVA). The company earned US$29 million on fourth quarter sales of US$1.5 million compared to US$12 million on s,-des of US$415 million in 1997.

Federal Mogul's Sealing System division reported fourth quarter sales of US$267 million in 1998 compared to US$95 million in 1997, an increase of 181%. This gain reflects a number of-lucrative contacts such as the Cummins deal, worth nearly US$10 million to supply gaskets and shaft seals for the $6000 engine and the Chrysler 2000 engine.

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