CHICAGO -- Parts maker Tenneco Automotive Inc. reported stronger-than-expected quarterly earnings on Tuesday as it boosted sales and controlled costs.
The maker of shock absorbers and mufflers reported net income of $30 million, or 69 cents a share, up from $24 million, or 58 cents a share, in the year-earlier period.
Before items, earnings rose to $31 million, from $20 million a year before.
Sales rose to a record $1.11 billion from $998 million. Tenneco credited higher volumes for new vehicle production, strengthening aftermarket sales in North and South America and the impact of the weaker U.S. dollar.
Tenneco Automotive is 31st on the Automotive News ranking of top suppliers to North American automakers in 2003 with $1.4 billion in sales.