CHICAGO -- BorgWarner Inc. said on Monday its quarterly earnings rose 13 percent, boosted by growth in its engine and four-wheel drive businesses.
The Chicago-based company said its third-quarter net income rose to $35.9 million from $31.9 million a year ago. Sales climbed to $725.2 million from $684.0 million.
BorgWarner narrowed its full-year 2003 earnings forecast to a range of $6.25 to $6.35 a share, at the upper end of its prior forecast of $6.20 to $6.35 a share.
For 2004, the company forecast earnings growth of 12 percent to 16 percent on sales growth of 8 percent to 11 percent.
BorgWarner is 29 on the Automotive News list of top suppliers to North American manufacturers with $1.5 billion in sales in 2002.