SOUTHFIELD, Mich. (AP) _ Lear Corp. (LEA) on Tuesday reported fourth-quarter net income of $21.5 million.
The Southfield, Michigan-based company said it had profit of 36 cents per share. Earnings, adjusted for one-time gains and costs, were $1.22 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.
The automotive seating and electrical distribution systems company posted revenue of $4.88 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $4.68 billion.
For the year, the company reported profit of $373.9 million, or $6.19 per share. Revenue was reported as $19.26 billion.
Lear expects full-year revenue in the range of $20.8 billion to $22.3 billion.
