Lear Reports First Quarter Financial Results

Lear Corporation LEA today reported financial results for the first quarter and maintained its 2011 full year core operating earnings outlook. Highlights include: Net sales of $3.5 billion, up 20% from a year ago Core operating earnings of $205 million, up 48% from a year ago and the seventh consecutive quarter of year-over-year improvement Free cash flow of $84 million Earnings per share of $1.44, up 136% from a year ago Initiated cash dividend, authorized $400 million share repurchase program and completed two-for-one stock split Corporate credit rating upgraded by Standard & Poor's 2011 full year core operating earnings outlook unchanged