Federal-Mogul Corporation (Southfield, Michigan) reported 3Q2000 sales of $1.43 billion,
down from 3Q1999 $1.59 billion.
Operating earnings were essentially breakeven at $1 million, vs. 3Q1999 $78 million.
Including restructuring expenses, the company lost $7.6 million in 3Q2000, vs. a profit
of $70.1 million for 3Q1999. The company's cash flow was (negative) $111 million.
F-M indicated that 3Q2000 earnings were impacted by weak North American aftermarket sales,
weak European currencies against the dollar and an OEM sales decline related to the soft
market for heavy-duty trucks in North America.
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- by Bruce A. Carr
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