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March 3, 2021
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LEAR EARNINGS
(2007-04-25)
(wgvu) - - THE AUTO-PARTS MAKER LEAR SAYS ITS
FIRST-QUARTER PROFIT ROSE SHARPLY AS IT GAINED NEW CUSTOMERS
OUTSIDE NORTH AMERICA.
INVESTOR CARL IKAHN RECENTLY REACHED A DEAL TO TAKE OVER THE
SOUTHFIELD-BASED COMPANY.
LEAR SAYS ITS QUARTERLY EARNINGS WERE 50 MILLION DOLLARS, OR
64 CENTS PER SHARE, COMPARED FROM 18 (M) MILLION DOLLARS DURING THE
SAME PERIOD LAST YEAR.
REVENUE FELL SIX PERCENT TO FOUR-POINT-FOUR BILLION DOLLARS.
THE SOUTHFIELD-BASED COMPANY SAID ITS REVENUE DECLINE REFLECTED
LOWER PRODUCTION IN NORTH AMERICA, DRIVEN BY CUTBACKS AT STRUGGLING
DOMESTIC AUTOMAKERS.
LEAR ALSO SOLD ITS EUROPEAN VEHICLE INTERIORS BUSINESS.

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