SOUTHFIELD, Mich.—Federal-Mogul reported net income of $56 million for the second quarter, compared with a net loss in 2012 of $59 million.
The company said the figure for this year was comparable to 2012 when excluding the impact of a non-cash charge of $119 million during last year's period.
Federal-Mogul's sales increased 6 percent to $1.77 billion for the second quarter.
Its operational EBITDA increased to $163 million, or 9.2 percent of sales, versus $157 million, or 9.3 percent of sales, in 2012 on a continuing operational basis. The improved EBITDA was driven by higher volumes in a more stable market environment.
The company said its second quarter results show the benefit of cost reductions and restructuring actions to eliminate loss-making units. On July 9, it concluded a shareholder rights offering generating $500 million. The offering raised equity to strengthen the company's balance sheet further and facilitate debt refinancing.