Autoliv Q3 Profit Drops - Quick Facts

(RTTNews) - Autoliv, Inc. (ALV), a supplier of automotive safety systems, Thursday reported a decline in profit for the third quarter, hurt by higher expenses.

The company's net income was down to $106.7 million or $1.16 per share from $124.9 million or $1.29 per share last year.

Excluding costs for capacity alignment and antitrust matters, earnings per share amounted to $1.25.

On average, 13 analysts polled by Thomson-Reuters estimated the company's earnings to be $1.41 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly sales, however rose to $2.20 billion from $2.11 billion a year ago. Analysts expected revenue of $2.26 billion for the quarter.

The group incurred higher R,D&E expenses of $135.7 million compared with $120.2 million last year.

Looking ahead, the firm expects organic sales for the fourth quarter to grow by around 2 percent and full-year organic sales growth of around 5.5 percent.

Further, the board proposed a quarterly dividend of 54 cents per share, to be paid on December 4, to shareholders on record as of November 19.