Rochester, NY 8/3/2009 9:36:27 PM
Tenneco Inc. TEN, Tenneco Recently Release Second Quarter Financial Results
Tenneco Inc.
Tenneco Inc. recently report updates on second quarter net loss of $33 million, or 72-cents per diluted share, as compared to the net income of $13 million, or 26-cents per diluted share, in second quarter 2008. Adjusted for the items below, the net loss was $10 million, or 22-cents per diluted share, versus net income of $34 million, or 71-cents per diluted share a year ago.
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"Our cost reduction, restructuring and cash generation actions continue to take hold and are delivering the results we need to manage through this very challenging production environment," said Gregg Sherrill, chairman and CEO, Tenneco. "Although our revenue and profitability continue to be negatively impacted by the global industry downturn, we are pleased with our strong cash flow performance this quarter as well as our gross margin improvement."
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