Lear reports financial results for fourth quarter 2010

Automotive seating manufacturer Lear has reported financial results for the fourth quarter of 2010, in which net sales totalled $3.2bn (£2bn) and pretax income $119.3m, including restructuring costs and other special items of $27.7m and diluted net income per share of $2.16.

Income before interest, other income expense, income taxes, restructuring costs and other special items totalled $149.9m and adjusted diluted net income per share was $2.38.

This compares with net sales of $2.7bn and core operating earnings of $115.5m in the fourth quarter of 2009.

In the fourth quarter of 2010 free cash flow was $159.8m, up from $11.3m in the same period of the previous year, while net cash provided by operating activities was $237.8m and $67.4m in the fourth quarters of 2010 and 2009, respectively.