Federal-Mogul $550 million in the red in 2006

Detroit, Michigan - Auto parts supplier Federal-Mogul Corp. said its operating financial performance improved in 2006 as it prepares to emerge from more than five years of bankruptcy protection this spring.

However, a one-time $501 million settlement charge related to the Chapter 11 bankruptcy case kept Federal-Mogul’s finances for the three months and for the 12 months ended December 2006, firmly in the red.

The company reported a net loss of $467 million (€360 million) on revenue of $1540 million (€1184 million) during the fourth quarter,…

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