Federal-Mogul Posts $18 Mln Loss In Q3

(RTTNews) - Federal-Mogul Holdings Corp. (FDML) on Wednesday posted a loss of $18 million during its third quarter. The results for the quarter reflect restructuring charges of $25 million as well as $12 million related to recent acquisitions, preparing for the spin-off of the Motorparts division and headquarters relocation costs.

On a per hare basis, the Southfield, Michigan-based firm recorded a loss of 12 cents. Earnings, adjusted for restructuring costs and amortization costs, came in at 13 cents per share. On average, 2 analysts polled by Thomson Reuters expected earnings per share of $0.26 per share for the quarter. Analysts' estimates typically exclude one-time items.

The automotive supplier posted revenue of $1.87 billion in the period, 11 percent higher than last year. Analysts estimated revenues of $1.82 billion for the quarter.