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The eBearing News
July 20, 2000
Federal-Mogul Reports Weak
Second Quarter 2000 Results
copyright © 2000 eBearing Inc.
Federal-Mogul Corp. (Southfield, Michigan) showed continued weaknesses
across the board in its businesses, reporting second quarter 2000 operating results.
Sales for the second quarter dropped to $1.59 billion from their 1999 level of
$1.69 billion. Operating profit also dropped, to $50 million from 1999's
$87 million.
The company blamed a continued weakness in the North American aftermarket, which
was down 8%, where margins are much higher than their Original Equipment sales
margins. Sales in the OEM market grew 3% from second quarter 1999.
Also causing unspecified profitability problems was the continued strength of the
Dollar against various European currencies.
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- by Bruce A. Carr
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tips and commercial sources.
Unauthorized reproduction is prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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