TRW posted record first-quarter earnings as the weaker dollar contributed to strong foreign sales of car and truck parts, the company said.
The Cleveland-based diversified manufacturer earned $61.9 million on sales of $1.49 billion in the first quarter, a 9.3% profit increase on a 4.2% increase in sales over the year-earlier period.
"Our electronics and space system and car and truck segments had a very good first quarter," said Ruben F. Mettler, chairman and chief executive. "Our other business, primarily in the depressed energy services industry, experienced lower results."
Return on equity in the first quarter was 23.5%, up from 12.8% a year ago. Mettler added that he expects 1986 to be a "strong year for TRW."