Federal-Mogul first quarter earnings down

SOUTHFIELD, Mich. (April 20)—Federal-Mogul Corp. posted first-quarter earnings of $13.9 million, down from $25.6 million during the first three months of 1999. Sales increased 3 percent to $1.64 billion from $1.59 billion last year. The seals producer said it used $211 million in cash from operations during the quarter, $104 million more than the same period in 1999, to accommodate larger asbestos payments and the timing of semi-annual interest payments. Federal-Mogul´s Sealing Systems, Visibility and Systems Protection Products segment reported increased sales of $490 million compared to $488 million last year.