TRW Automotive Holdings Corp. reported net earnings of $50 million ($0.50 per share) on sales of $3.2 billion for its first quarter, ended April 1. Earnings a year ago totaled $2 million ($0.02 per share) on sales of $2.9 billion. The current quarter included five additional calendar days than Q1 did last year.
President and chief executive officer John C. Plant said Q1 earnings exceeded the firm’s earlier guidance primarily because of the timing of restructuring actions and associated pre-tax expenses amounting to $22 million. The actions and related charges are now expected in Q2.
"Despite continuing tough industry conditions and developments, our first quarter results from operations were in line with our expectations,” Plant said. “For the remainder of the year, we must execute our operating plans with precision to succeed in this difficult industry environment and be in a position to deliver our operational and financial commitments."
Separately, TRW Automotive GmbH launched new driver assistance and active safety technologies on the Volkswagen Passat. A radar-based adaptive cruise control (ACC) system works in tandem with a new system called Stopping Reduction 1 to shorten stopping distances in emergency situations. When the radar foresees a critical situation, such as a slower vehicle ahead, the brakes pre-fill and hydraulic brake assist trigger thresholds are lowered so that full braking force is applied immediately when a driver engages the brake.
TRW Automotive has also integrated electronic stability control (ESC) and electronic park brake (EPB) systems in the Passat and claims to be among the first to do so. The integrated technology provides auto hold, hydraulic brake boost, emergency brake assist, and tire pressure monitoring. It also supports automatic electronic deceleration for the ACC.