Eaton auto unit shines in quarter

While other suppliers reported dismal third-quarter results, the automotive unit was a bright spot for Eaton Corp.

Eaton's automotive business posted operating profits of $41 million on sales of $349 million in the period that ended Sept. 30, an 8 percent increase from the same quarter last year, when sales were $346 million.

Eaton attributed the performance to a record level of product launches in the areas of engine air management, powertrain and specialty controls.

For the first nine months of this year, automotive operating profits were off 11 percent to $150 million on net sales of $1.1 billion.

The entire corporation posted a third-quarter profit of $40 million on sales of $1.75 billion. For the first nine months, Eaton reported a profit of $139 million on sales of $5.6 billion.

Eaton ranks No. 13 on the Automotive News list of top 150 original-equipment suppliers to North America with sales of $2.8 billion in 2000. The company supplies engine systems, sensors and actuators.

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