Southfield, Michigan -- Lear Corp's automotive seating sales rose by 14% to $3.1bn (EUR 2.3bn) in the final quarter of 2013 compared the previous year.
Adjusted segment earnings dropped 6.8% - almost $45m - over the same period due to the "impact of key program changeovers and unfavourable performance in South America," said a company press release.
Full year results also showed a sales increase in seating with net sales of $12bn in the segment - 9% higher than 2012. Lower adjusted earnings – 4.5% lower or $7m - were also reported in the year's final quarter.
The results reflect the "addition of new business, higher production on key platforms and the acquisition of Guildford Mills" - a Wilmington-based automotive fabric plant with a sales capacity of $400m under previous owner Cerberus Capital Management, said a company press release.
In 2014, the company predicts a sales growth of up to 7.4% across the business.
XE currency conversion: 3 February
