Autoliv upbeat on Q1, full-year, shares rise

By IBTimes Staff Reporter | January 29 2010 8:40 AM

World number one air bag and seat belt maker Autoliv gave an upbeat forecast for the coming year on Friday after posting fourth-quarter earnings above forecast.

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For 2010, consolidated net sales are expected to grow by more than 70 percent for the first quarter and by 15-20 percent for the full year, the company said in a statement.

An operating margin of approximately 8.5 percent is expected for the first quarter and a full-year operating margin in line with Autoliv's long-term target range of 8-9 percent.

Pretax earnings were $98 million in October through December, up from a loss of $47 million a year ago and above the $69 million seen in a Reuters poll.

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