ERJ staff report (AN)
Detroit, Michigan — Automotive supplier Federal-Mogul Corp. has reported a fourth-quarter net loss after a $304 million one-time impairment charge caused by a drop in the value of some of its product lines.
The suburban Detroit supplier’s fourth-quarter net loss was $239 million, or $2.42 a share, compared with a profit of $45 million, or 45 cents a share, a year ago. Revenue rose 5 percent from the fourth quarter of 2010 to $1.7 billion.
Removing one-time items, Federal-Mogul reported a profit of $51…