Swedish Autoliv net profit at USD33.7m in Q3 '09

Tue. October 20, 2009; Posted: 03:20 PM

Oct 20, 2009 (M2 PRESSWIRE via COMTEX) -- ALV | Quote | Chart | News | PowerRating -- 20 October 2009 - Swedish airbags and seat-belt maker Autoliv Inc (NYSE:ALV) (STO:ALIV SDB) said today its net profit edged down to USD33.7m in the third quarter of 2009 from a USD34m net profit a year earlier.

Net sales dropped 14% year-on-year to USD1.326bn.

Third-quarter operating profit increased to USD60m from USD58.3m, while pretax profit declined to USD39.2m from USD47.2m.

Autoliv's EPS dipped to USD0.37 from USD0.44.

Cash flow from operations rose to USD125m, up by USD23m from the same quarter of 2008, mainly due to a USD17m reduction in operating assets and liabilities.

In the first nine months of 2009, Autoliv slipped to a net loss of USD50.9m from a net profit of USD210.1m a year earlier. The company also moved to an operating loss of USD41m from an operating profit of USD333.8m and to a pretax loss of USD92.2m from a USD295.3m pretax profit.

The period has been affected by Autoliv's acquisition of the automotive radar sensor business of US-based electric equipment manufacturer Tyco Electronic Corp (NYSE: TEL).

Autoliv guided for a 25% net sales growth and an operating margin of at least 7%, excluding restructuring costs, in the fourth quarter of 2009.

For the full year, the company expects a 25% sales decline, assuming that organic sales will outperform light vehicle production (LVP) in North America and western Europe by 5%. The operating margin, excluding restructuring charges, is projected to exceed 2%.

(EUR1 = USD1.49)

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For full details on Autoliv Inc (ALV) click here. Autoliv Inc (ALV) has Short Term PowerRatings of 5. Details on Autoliv Inc (ALV) Short Term PowerRatings is available at This Link.

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