CHICAGO -- Parts maker Tenneco Automotive Inc. on Tuesday reported a net loss for the fourth quarter as expenses for refinancing debt and restructuring operations hurt results.
The maker of shock absorbers and exhaust systems reported a net loss of $2 million, or 4 cents a share, compared with a profit of $9 million, or 21 cents a share, a year ago.
Excluding one-time items, the US company posted a fourth-quarter profit of $2 million, or 6 cents a share, compared with a year-ago loss of $7 million, or 17 cents a share.
Fourth-quarter revenue rose to $933 million from $846 million.
Tenneco said its focus in 2004 will be to continue to cut costs, improve revenue growth and generate cash to further reduce debt. The company noted it won more than $900 million in new business in 2003.