The BorgWarner Group announced that its net sales for the first quarter of this year were US$1.913 billion, an increase of 11% year-on-year, and net sales of US$1.73 billion for the same period last year. In the first quarter, BorgWarner's engine business unit had net sales of US$1.308 billion, a year-on-year increase of 5%, and sales for the same period last year were US$1.249 billion. Sales growth was mainly driven by growth in sales of timing systems; powertrains. Net sales for the first quarter of the business were US$611 million, an increase of 26% year-on-year, and net sales for the same period last year were US$486 million. In the first quarter, BorgWarner's net profit was $158 million, and its diluted profit per share was $1.28. In the same period last year, BorgWarner's net profit was $125 million, and its diluted profit per share was $1.00. Borgwarner said that the negative impact of foreign currency exchange rates reduced its first-quarter net sales by approximately US$45 million, resulting in a decrease of US$0.03 per diluted profit.
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