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DETROIT -- Federal-Mogul Corp.'s second-quarter net income soared to $89.6 million from $3.9 million a year earlier on record sales of $1.99 billion, up 13.1 percent.

The powertrain parts supplier said more than half of the $231.8 million increase in sales in the quarter ended June 30 came from foreign-exchange gains. Federal-Mogul has posted year-over-year sales gains in eight straight quarters because of rising sales to customers in Europe, Asia and South America. Sales in the emerging markets of Brazil, Russia, India and China grew by a combined 50 percent in the latest quarter.

Federal-Mogul shares rose, closing at $14.95 a share, up $1.96 or 15.09 percent on the day.

Federal-Mogul emerged from six years of Chapter 11 bankruptcy protection in December and about 75 percent of its stock now is controlled by New York investor Carl Icahn, who is the company's nonexecutive chairman.

New business contracts and improved productivity offset declining volumes in North America and rising energy and raw-material prices. The supplier also cut its selling, general and administrative expenses to 10.6 percent of sales in the last quarter from 12.1 percent of sales a year earlier.

Federal-Mogul, of suburban Detroit, makes a variety of original-equipment and aftermarket parts such as pistons, rings, bearings and heat shields. The company ranks No. 41 on the Automotive News list of the top 100 global suppliers with worldwide original-equipment automotive parts sales of $4.24 billion in fiscal 2007.