Federal-Mogul reports increased profit, lower sales

Southfield, Michigan – Federal-Mogul Holdings Corp., the diversified auto supplier controlled by longtime Wall Street investor Carl Icahn, posted a $31 million profit in the second quarter, up 41 percent from the year-earlier period, driven by a gain in its powertrain unit.

The increase overcame lower aftermarket sales and the negative impact of currency exchange rates.

The supplier said it posted net sales of $1.92 billion in the second quarter, a 2 percent dip from the year-earlier period.

Federal-Mogul’s powertrain unit generated revenue of $1.172 billion in the…

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