LAKE FOREST, Ill. (April 28)—Tenneco Automotive Inc. was $7 million in the black in the first quarter, reversing a $2 million loss a year ago, on the strength of 35-percent higher pretax operating earnings.
Sales by the maker of Clevite rubber-to-metal vibration-control products rose 7.1 percent to $1.1 billion, while the operating income jumped to $44 million despite rising steel costs.
"We are pleased with our performance this quarter, especially in light of tough market conditions with slowing OE production in North America and the ongoing high cost of steel worldwide," said Mark P. Frissora, Tenneco Automotive chairman and CEO. Frissora credited new incremental OE business and a strong global aftermarket presence for much of the turnaround.
The firm's ride control businesses—which include the Clevite activities—posted 11.7-percent higher sales, of $364 million.