DETROIT -- BorgWarner Inc. reported a 33 percent increase in third-quarter profits on a surge in sales of engine and transmission components.
The company said it earned $141.6 million in the third quarter, compared with $106.7 million a year earlier. Revenue rose 27 percent to $1.8 billion.
The supplier of turbochargers, transmission components and four-wheel drive systems is benefiting from the industry's ongoing focus on improved fuel economy, performance and lower vehicle emissions.
BorgWarner was also helped by the acquisition of Haldex's traction systems unit in the first quarter.
The company said third-quarter engine-segment revenue rose 23 percent to nearly $1.3 billion, while drivetrain segment revenue increased 36 percent to $539 million.
Excluding the impact of currency exchange rates and sales related to purchase of the Haldex unit, BorgWarner said sales were up about 16 percent in the third quarter, compared with 5 percent growth in global vehicle output.
The company now expects 2011 revenue growth to be 26 percent to 27 percent, or near the high end of its previous guidance of 25 percent to 28 percent.
"Our growth is tied to the industry's adoption of leading edge powertrain technology, a long-term trend that will occur despite near-term market conditions," CEO Timothy Manganello said in a statement. "This trend … causes us to be optimistic about our business for the remainder of 2011 and beyond."