Tenneco reports Q3 results, earnings up 10 percent

Lake Forest, Illinois -- Tenneco Automotive reported record third quarter revenue and net income since becoming a stand-alone company. The company reported third quarter net income of $10 million, or 23-cents per diluted share, up from net income of $6 million, or 14-cents per diluted share in third quarter 2004. Adjusted for extraordinary items, net income rose to $12 million, or 27-cents per diluted share, compared with $7 million, or 16-cents per diluted share a year ago. The company reported third quarter revenue of $1096 million, up from $996 million a year ago.

In a statement,t he company said, "European OE revenue was $341 million, versus $305 million a year ago. Adjusted for favorable currency, catalytic converter pass-through sales and a change in reporting for a customer contract, revenue was up 14%. The year-over-year improvement -- despite a market production decline of 1% -- was driven by the continued ramp up of new launches and a favorable platform mix with product on many of the better selling vehicles."