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EARNINGS

TRW's 1st-Quarter Net Off 5.6% to $56.6 Million

April 16, 1985

TRW said its first-quarter net income dropped 5.6% to $56.6 million from $60 million in the year-ago period, despite an increase in revenue.

The Cleveland-based company, which provides high-technology products and services to diversified markets, attributed the decline to "substantially" lower profits from its industrial and energy segment.

Revenue for the three-month period ended March 31 was $1.6 billion, up 9.5% from $1.46 billion reported for the like 1984 quarter.

The company also blamed the lower earnings on the dollar's strong performance abroad.

The company said strong sales in its Electronics & Space Systems Group were offset by the poorer performance of some of its product lines in the industrial segment.

Operating profits in the Industrial & Energy Group dropped 32% in the quarter to $20.4 million from $29.9 million in the 1984 first-quarter.

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