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July 25, 2014 10:00 AM, EDT
Wabco 2Q Income Declines; Sales Rise
Wabco Holdings Inc.

Belgium-based Wabco Holdings Inc. said second-quarter net income declined from a year ago, but sales and operating income improved.

Net income declined to $75 million or $1.24 per share, from $83.2 million or $1.33, a year ago, according to the commercial-vehicle safety-technology supplier.

Operating income improved to $90.4 million from $86.4 million, and sales rose 5.9% to $735 million.

Wabco, which has a joint venture with Meritor Inc., said it expects sales growth for the year to be between 6% to 9% and earnings per share of $4.77 to $5.28.

“In Q2 2014, we continued to demonstrate our ability to outperform the market in every region as we further increased Wabco content per vehicle and steadily expanded market share in a still-volatile and uncertain market that contracted by 5 percent year on year,” Chairman and CEO Jacques Esculier said in a statement.