TRW Trims Its Profit Estimates Again

TRW Inc. slashed profit estimates for the second time since September, blaming production cuts by North American auto makers. The maker of defense equipment and auto parts said fourth-quarter earnings will be 50 cents to 55 cents a share, well below the 74-cent average estimate of analysts surveyed by First Call/Thomson Financial. The company posted earnings of $1.33 a share in the year-earlier period. TRW, the second-biggest maker of vehicle air bags, will take at least $45 million in charges in the quarter to restructure its automotive business, including an unspecified reduction in its work force. Shares of Cleveland-based TRW closed off 13 cents at $31.63 on the NYSE.