DETROIT (Reuters) --Three major U.S. auto parts suppliers today said they posted significantly higher quarterly profits compared with the same quarter last year.
Auto-parts supplier Johnson Controls Inc. reported a 20 percent increase in its fiscal fourth-quarter profit on a similar gain in revenue.
The company, in a statement today, said net income rose to $538 million from $449 million a year earlier. Sales climbed to $10.8 billion from $9 billion. Johnson Controls also reiterated its outlook for its fiscal 2012 year, which it announced on Oct. 12.
The maker of auto interiors and batteries and building-efficiency systems projected sales would increase 8 percent to $44.2 billion in the current fiscal year. It expects earnings to rise to between $2.85 and $3 per share. Per-share earnings in the latest quarter were 78 cents, up from 66 cents a year earlier.
Meanwhile, Federal-Mogul Corp., the diversified original equipment and aftermarket parts maker controlled by billionaire investor Carl Icahn, reported a higher third-quarter profit.
The company's third-quarter profit was $34 million, or 34 cents a share, compared with $53 million, or 53 cents a year ago, which included $24 million in one-time gains. Two analysts in a Bloomberg survey estimated profit of 42 cents and 47 cents.
Revenue rose 12 percent to $1.7 billion.
In another supplier report today, Dana Holding Corp. said a jump in revenue and cost-control efforts contributed to its net income more than doubling in the latest quarter.
The Maumee, Ohio-based company reported net income of $110 million, up from $46 million a year earlier. Excluding one-time items, the maker of axles, driveshafts and transmissions reported an adjusted profit of 45 cents per share.
Revenue jumped 30 percent to $2 billion.
Dana also said it expected earnings per share between $1.65 and $1.70 in 2011, skewing to the high end of its earlier outlook of $1.60 to $1.70. Analysts, on average, expect full-year results to be $1.66 per share.
Bloomberg contributed to this report.