May 4, 2008  From Auto News

May 4--Supplier TRW Automotive Holdings Corp. boosted its estimates for 2008 earnings after reporting a first-quarter revenue increase. 
     
The supplier of electronics and safety systems posted first-quarter net income of $94 million on revenue of $4.1 billion. TRW had a net loss of $86 million on revenue of about $3.6 billion in the same period last year. 
     
TRW President and CEO John Plant called the company’s first-quarter results "solid," considering decreased light-vehicle production in North America and other economic factors. 
     
 "The company is off to a good start," Plant said in an earnings conference call today. 
     
About $358 million of TRW’s $577 million increase in first-quarter revenue was created by foreign currency exchange, the company said in its annual earnings filing with the U.S. Securities and Exchange Commission. 
     
Excluding revenue gains from currency translation, sales increased about 6 percent, or $219 million, mostly from growth in China and South America. 
     
TRW lowered its estimate for 2008 light vehicle production in North America by 300,000 vehicles to 14.2 million, 8.6 million of which the company expects to be produced by the Detroit 3. 
     
Lowered production in North America and the ongoing strike at American Axle & Manufacturing Holdings Inc. reduced TRW sales. The 3,650-worker strike, now entering its third month, cost TRW an estimated $55 million in sales. 
     
Still, the company boosted its 2008 sales estimates to the $16.2 billion-$16.6 billion rang e because of anticipated gains from new contract awards and continuing cash gains from foreign currency translation.

Editor: Haijing Qu