TRW Earnings Rise 10% in 2nd Quarter

TRW Inc. reported that net earnings climbed 10% to $75.4 million in the quarter ended June 30, based on the strength of its electronics, space systems and automotive segments.

The Cleveland-based diversified manufacturer said revenue rose 14% to $1.73 billion in the second quarter, up from $1.51 billion last year.

TRW said operating profits at its electronics and space systems segment jumped 32% to $84.5 million on sales of $892 million. Sales of defense electronics, spacecraft and information services were up strongly, the company said.

In the car and truck segment, operatings profits rose 20% to $50.7 million on sales of $480 million. U.S. and European markets continued at a strong pace, and the firm posted significant sales of passenger safety systems because of an acquisition, it said.

But operating profits at the firm’s industrial and energy segment dropped a sharp 45% to $21.6 million in this year’s quarter from $39.5 million in the second quarter last year.

Sales of oil well production equipment were up strongly but were more than offset by weak sales and lower profits in such lines as aircraft engine components, bearings and industrial tools.