Federal-Mogul Net Income Soars to $90 Million on Record Quarterly Sales

Federal-Mogul Net Income Soars to $90 Million on Record Quarterly Sales Net income of $90 million in Q2 2008 up from $4 million in Q2 2007 Record net sales of $2 billion and eighth consecutive quarter of year-over- year growth SOUTHFIELD, Mich., July 25 /PRNewswire-FirstCall/ -- Federal-Mogul Corporation (Nasdaq: FDML) today reported record second quarter sales of $2 billion and an eighth consecutive quarter of year-over-year increased sales combined with a sharp rise in quarterly net income to $90 million. Sales for the three-month period ending June 30, 2008, were a record $1,995 million, an increase of 13 percent, compared to $1,763 million for the same period a year ago. Federal-Mogul reported a gross margin of $396 million or 19.8 percent of sales, compared to $322 million or 18.3 percent of sales, representing an... [read full story]