Tenneco's Earnings, Revenues Improve

Autoparts Report, Nov 5, 2002

Tenneco reported net income of $5 million, or 13-cents per diluted share, for the third quarter of 2002 compared with a net loss of $2 million, or 6-cents per diluted share during the third quarter 2001.

The company reported revenue for the quarter of $856 million, compared with $817 million in the third quarter of 2001, a 5 percent increase. Reported EBITDA for the quarter was $75 million, flat compared with the previous year. However, the third quarter 2002 results include pre-tax non- accruable restructuring expenses of $3 million, $2 million after-tax, or 4-cents per share.