Federal-Mogul reports flat quarterly results

Detroit, Michigan – Federal-Mogul Holdings Corp., the diversified auto supplier that billionaire investor Carl Icahn is aiming to take private, said it posted $15 million in third-quarter net income, up from a $63 million loss a year earlier.

Net sales were flat at $1.8 billion as a 2 percent decline in its aftermarket division sales offset a slight gain in powertrain division revenue. The net income gain was largely the result of larger one-time expenses in 2015.

The suburban Detroit supplier’s powertrain unit posted third-quarter revenue of…

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