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US commercial vehicle safety and control systems supplier WABCO Company (Wabco Holdings Inc.) has announced its 2011 first quarter earnings. The report shows that the company’s net profit in the first quarter has almost quadrupled from the same period of last year due to the increase in demand for trucks and buses, which boosted the company’s output.
According to the report, the company’s net profit for the three months ended March 31, 2011 was US$115 million (approximately US$1.66 per share), compared with US$30.7 million (approximately US$47.70 per share) in the same period of last year. Minute). The company said that its adjusted earnings per share reached $1.12 in the first quarter.
WABCO said that during the quarter, the company’s revenue soared from 491 million US dollars last year to 678 million U.S. dollars, which is higher than the analyst’s forecast of 633 million U.S. dollars in the fourth quarter of last year. According to the company, sales of its trucks and buses in the European market increased by 72%; in the North American market, it increased by 43%; in the South African market, it increased by 23%; and in the Asian market, it rose by 19%.
In addition, the company also raised its full-year 2011 performance expectations. At present, the company expects its earnings per share will be between 4.62-5.02 US dollars. At the same time, the company also expects that its adjusted earnings per share will be in the range of 4.15-4.55 US dollars, which is higher than the previous forecast of 3.75-4.15 US dollars per share.
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