UPDATE: BorgWarner Profit Beats Estimates

BorgWarner

reported a better-than-expected fourth-quarter profit. BorgWarner's quarterly net income surged to $141.4 million, or $0.62 per share, from $121.2 million, or $0.51 per share, in the year-ago period. Excluding one-time items, the company earned $0.79 per share, versus analysts' estimates of $0.71 per share. Its revenue climbed 10% to $1.89 billion, versus estimates of $1.9 billion. BorgWarner shares closed at $55.44 yesterday.