Lear announces Q3 sales increase
One of the world’s leading automotive interiors suppliers, Lear Corporation, has announced record net sales of $3.9 billion for the third quarter of the fiscal year 2004/05 – a 12% increase on last year’s results. The company, based in
“Despite escalating raw material and energy prices, the Lear team remains focused on meeting the requirements of our customers,” said Lear Chairman, Bob Rossiter, “We continue to invest in the business on a global basis, and I am pleased that the aggressive actions we have taken to improve our operations in
However, despite the positive results released by the company, Lear remains cautious for the future. The company has lowered its fourth quarter forecast, now predicting a drop of 3% on last year’s sales figures to $4.1 billion. This cautionary measure is on account of the continued high cost of raw materials, and the cut in production that has been announced by the largest manufacturers in the automotive industry in the
