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BorgWarner keeps 2008 profit forecast on higher int'l sales

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May 2, 2008

AUBURN HILLS, Mich.—BorgWarner Inc. on Friday maintained its earnings forecast for the full-year, predicting that international demand for its vehicle components will offset the effects of a weak U.S. economy and slowing domestic vehicle production.

The company expects to earn $2.85 to $3 per share for the year.

Analysts polled by Thomson Financial, on average, predict profit of $2.85 per share.

"Despite recession worries, we are seeing stable growth driven by our product technologies that improve fuel economy, lower emissions and provide better vehicle performance," Chairman and Chief Executive Tim Manganello said in a statement.

In the first quarter, the company said international sales rose 15 percent excluding currency impacts, while U.S. sales fell 4 percent due to lower vehicle production.

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