Federal-Mogul Corp. reported a loss in the second quarter despite a slight increase in revenue. But for the first six months, the auto supplier lost less money than last year.
For the second quarter, which ended June 30, Southfield, Mich.-based Federal-Mogul reported a loss of $5 million or 6 cents a share on revenue of $1.4 billion. That compares with net income of $16 million or 17 cents on revenue of $1.4 billion for the same period in 2002.
During the first six months of this year, Federal-Mogul reported a loss of $39.3 million or 45 cents a share on revenue of $2.9 billion. For the same period last year, it lost $1.4 billion or $17.25 on revenue of $2.8 billion.
Federal-Mogul is still trying to emerge from the final stages of Chapter 11 bankruptcy protection. The company makes transmission, brake and suspension components for automakers as well as replacement parts for consumers.
Michael Strong is a staff reporter for Crain's Detroit Business, a sister publication of Automotive News.