Lear 2nd quarter earnings rise

SOUTHFIELD, Mich. (July 20)—Lear Corp. reported a rise in second quarter earnings of 21 percent over the like period 1999. For the term, the automotive interior and electronics supplier reported net sales of $3.8 billion, operating income of $246 million and net income of $102 million—or $1.53 per share. All were second-quarter records for the firm. Excluding non-recurring items, net income from April to June was $89 million, Lear said. Kenneth L. Way, Lear chairman and CEO, credited "strong internal growth as well as the benefits of (Lear´s) integrated acquisitions" for the strong showings.