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
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