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DETROIT (AP) - TRW Automotive Holdings Corp., one of the world's largest auto suppliers, posted a profit in the fourth quarter due to aggressive cost-cutting and growing demand for safety equipment, but predicted Tuesday that sales will weaken this year as U.S. automakers cut North American production.
TRW shares rose $1.01, or 3.9 percent, to close at $27 on the New York Stock Exchange. The stock briefly hit $29.15 earlier in the day, near the high end of a 52-week range of $17.64 to $30.
Net income for the fourth quarter was $59 million, or 57 cents per share, compared with a loss of $62 million, or 63 cents, the year before. A reduction in legal reserves boosted its earnings by $18 million, or 17 cents per share, in the latest quarter, TRW said.
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