Federal-Mogul Corporation (Southfield, Michigan), the troubled diversified
manufacturer posted disappointing operating results for 1Q2000. Flat sales were
backed up by dramatic drops in operating income and earnings per share.
While other automotive and diversified industrial manufacturers posted strong sales
gains in the first quarter, Federal-Mogul's Net Sales were flat at $1.64 billion.
Net Income declined dramatically from $25.6 million in 1Q1999 to $13.9 million
in 1Q2000. Before one-time charges, the results were Net Income of $61.4 million
in 1Q1999 and $13.9 million in 1Q2000.
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- by Bruce A. Carr
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