US: Federal-Mogul swings to Q4 profit

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Supplier Federal-Mogul on Tuesday reported strong Q4 2009 profitability, with higher gross margin (16% vs 13.9% a year ago), improved net income of US$43m, or $0.43 per share (Q4 2008: $530m loss), and $251m record cash flow with increased sales of $1.41bn compared with Q4 2008's $1.32bn. Full story...