Restructuring Gives TRW Big Losses for Quarter, Year
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TRW Inc., a diversified company that includes defense technology, reported a loss Wednesday for the fourth quarter and all of 1991 but said it expects a restructuring plan to bring improvement within 18 months.
Cleveland-based TRW said it lost $231 million, or $3.76 a share, for the fourth quarter, compared to a profit of $42 million, or 68 cents a share, a year earlier.
For all of 1991, TRW had a loss of $140 million, contrasted with a profit of $208 million in 1990.
Restructuring resulted in a charge of $256 million and caused the 1991 loss, the company said. Without the charge, 1991 earnings would have totaled $116 million, TRW said.
Sales in the final period of last year rose to $2.12 billion from $2.06 billion a year earlier. Sales in all of 1991 dropped 3% to $7.9 billion from $8.2 billion in 1990.
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