Wabco Holdings reported Q4 and full year 2015 results. Q4 2015 sales were $670.6 million, up 10.5 percent in local currencies from a year ago.
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This is down 1.3 percent in U.S. dollars, reflecting strengthening of the U.S. dollar year on year.
In Q4 2015, Wabco reported performance operating income of $87.8 million versus $88.6 million a year ago; performance operating margin of 13.1 percent, up from 13 percent a year ago.
Performance net income attributable to the company qas $82.1 million or $1.43 per diluted share, up from $81.6 million or $1.38 per diluted share a year ago.
In Q4 2015, Wabco reported U.S. GAAP operating income of $74.9 million, up from $68.7 million a year ago; U.S. GAAP operating margin of 11.2 percent, up from 10.1 percent a year ago; and U.S. GAAP net income attributable to the company of $98.7 million or $1.71 per diluted share, up from $65.1 million or $1.10 per diluted share a year ago.
Full year 2015
For full year 2015, Wabco reported sales of $2,627.5 million, up 6.6 percent in local currencies from a year ago and down 7.8 percent in U.S. dollars, reflecting strengthening of the U.S. dollar year on year.
For full year 2015, Wabco reported performance operating income of $354.4 million versus $371.4 million a year ago; performance operating margin of 13.5 percent, up from 13.0 percent a year ago; and performance net income attributable to the company of $327.4 million or $5.62 per diluted share versus $334.0 million or $5.52 per diluted share a year ago.
For full year 2015, Wabco reported U.S. GAAP operating income of $270.9 million versus $331.0 million a year ago; U.S. GAAP operating margin of 10.3 percent versus 11.6 percent a year ago.
U.S. GAAP net income attributable to the company was $275.2 million or $4.72 per diluted share versus $291.5 million or $4.81 per diluted share a year ago, due to charges taken in Q3 2015 mostly associated with Wabco's previously disclosed proposals to cease manufacturing at two sites in Western Europe. ■