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Tenneco Posts Net Loss in Q2
Monday, August 03, 2009 11:59 AM


(Source: Datamonitor)trackingTenneco, a US-based manufacturer of automotive emission control and ride control systems, has reported a net loss of $33 million or $0.72 per diluted share in the second quarter of 2009, compared to a net income of $13 million or $0.26 per diluted share in second quarter of 2008.

The company's net sales and operating revenues for the second quarter of 2009 were $1.11 billion, a 24% decrease, compared to $1.65 billion in the same period of 2008.

For the six months ended June 30, 2009, the company has reported a net loss of $82 million or $1.76 per diluted share, compared to a net income of $19 million or $0.39 per diluted share in the first half of 2008.

Net sales and operating revenues for the first half of 2009 were $2.07 billion, compared to $3.21 billion in the same period of 2008.

Gregg Sherrill, chairman and CEO of Tenneco, said: "Our cost reduction, restructuring and cash generation actions continue to take hold and are delivering the results we need to manage through this very challenging production environment.

"Although our revenue and profitability continue to be negatively impacted by the global industry downturn, we are pleased with our strong cash flow performance this quarter as well as our gross margin improvement."

A service of YellowBrix, Inc.



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