STOCKHOLM, Sweden, July 17, 2003 (PRIMEZONE) -- Autoliv (NYSE:ALV):
Financial Report April - June 2003 - Record sales and earnings - Sales up 17% to $1.4 billion - Earnings before tax up 31% to $108 million - Earnings per share up 42% to $.75
Autoliv Inc. (SSE:ALIV) -- the worldwide leader in automotive safety systems -- reported record sales and earnings, as well as continued strong cash flow for the three- month period which ended June 30, 2003.
Despite a 6% decline in the underlying light vehicle production, consolidated sales rose by 17% to $1,367 million, operating income by 19% to $111 million and income before taxes by 31% to $108 million compared to the corresponding quarter 2002. Net income improved by 36% to $71 million and earnings per share by 42% to 75 cents.
The operations generated cash of $118 million before investing activities. Net debt to capitalization decreased during the quarter from 30% to 29%.
Stronger foreign currencies, higher market shares and better margins drove earnings and cash flow.
A tele-conference will be held today at 3.30 p.m. CET (9.30 a.m. New York time). In Europe call: +44-20-7162 0093 and in N. America: +1-334- 323 6201. It will also be available and archived at www.autoliv.com under Financial info/Calendar.
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The following files are available for download:
http://www.waymaker.net/bitonline/2003/07/17/20030717BIT00250/wkr0001.doc
The full report
http://www.waymaker.net/bitonline/2003/07/17/20030717BIT00250/wkr0002.pdf
The full report