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TRW Warns of Profit Lower Than Forecasts

March 31, 2000|Bloomberg News

TRW Inc. said first-quarter profit could be as low as $1.20 a share, less than analysts' estimates, because of "nonoperational issues." The company could still meet the $1.25-a-share average forecast of analysts surveyed by First Call/Thomson Financial, TRW spokesman Jay McCaffrey said. The analyst estimates range from $1.24 to $1.27 a share. The Cleveland-based company had profit from operations of 86 cents a share in the 1999 first quarter. McCaffrey wouldn't elaborate on what the company meant by "nonoperational issues." Margins at the occupant-safety business, which makes air bags and seat belts, fell to 6.5% from 9.6% in the quarter, the company said. TRW releases earnings April 19. The earnings expectations exclude one-time gains and charges in the quarter. TRW shares closed up $1 at $62.94 on the New York Stock Exchange. The announcement was made after the close of trading.

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