DETROIT (Reuters) - Federal-Mogul Corp., the auto parts supplier controlled by billionaire investor Carl Icahn, reported higher first-quarter earnings on Thursday, helped by a jump in revenue.
The company said first-quarter net income was $51 million, compared with $15 million a year earlier. Revenue rose 16 percent to $1.7 billion.
The company said the results reflected improved market share in all business units, as well as higher global demand for original equipment parts.
Federal-Mogul's orginal equipment sales were $1.1 billion in the first quarter, an increase of $211 million, or 23 percent, from $936 million a year ago.
Global aftermarket sales totaled $577 million, up 4 percent or $24 million.