BorgWarner Inc. fourth quarter profit rises

AUBURN HILLS (AP) -- Automotive parts supplier BorgWarner Inc. said Tuesday its fourth-quarter profit rose 9.1 percent, boosted by higher demand for its powertrain technology. BorgWarner's adjusted profit came in slightly ahead of wall Street predictions and the company also issued a 2012 profit prediction ahead of average analysts' estimates. Auburn Hills-based BorgWarner earned $127.5 million, or $1 per share, up from $116.9 million, or 89 cents per share, in the same quarter a year earlier. Excluding one-time items, the company said it posted an adjusted profit of $1.19 per share for the recent quarter. Sales rose 16 percent to $1.77 billion from $1.53 billion. Excluding the impact of exchange rates and sales related to a recent acquisition, BorgWarner said sales rose 12 percent. Analysts, on average, expected a profit of $1.17 per share on $1.82 billion in revenue, according to a FactSet poll. Analysts' estimates usually exclude one-time items. BorgWarner said its improved results were driven by new business, adding that adoption of its powertrain technology continues to outpace vehicle production across the world. For the full year 2011, BorgWarner earned $571.6 million, or $4.45 per share, up from $397.8 million, or $3.07 per share, in 2010. Revenue rose to $7.11 billion from $5.65 billion. The company said it expects to post a 2012 profit of $5.35 to $5.65 per share on sales growth of between 10 percent and 12 percent. Based on BorgWarner's 2011 sales, the guidance implies 2012 sales of between $7.83 billion and $7.97 billion. Analysts polled by FactSet expect a 2012 profit of $5.34 per share on $8 billion in sales. BorgWarner shares rose 15 cents to $79 in afternoon trading. Published: Thu, Feb 16, 2012