LAKE FOREST, Ill. (Nov. 17)—Tenneco Automotive Inc. restated its third-quarter sales and earnings to reflect an oversight in its German operations and lower interest expense of $2 million in connection with the refinancing of some of its debt earlier this year. The company had understated its net income by $1 million and overstated revenue and earnings before interest and taxes for the quarter by $1 million. Actual third-quarter net income was $4 million, rather than $3 million, on sales of $914 million rather than $915 million as previously reported. Tenneco's EBITDA was $38 million for the quarter, down from $39 million as reported on Oct. 21.
Tenneco restates third-quarter results
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