SOUTHFIELD, Mich. (AP) _ Lear Corp. (LEA) on Thursday reported fourth-quarter profit of $117.5 million.
On a per-share basis, the Southfield, Michigan-based company said it had net income of $1.97. Earnings, adjusted for one-time gains and costs, came to $2.81 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.54 per share.
The automotive seating and electrical distribution systems company posted revenue of $5.37 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $5.23 billion.
For the year, the company reported profit of $327.7 million, or $5.47 per share. Revenue was reported as $20.89 billion.
Lear expects full-year revenue in the range of $21.2 billion to $22.2 billion.
