March 20, 2012 / 9:58 PM / 5 years ago

Martinrea's profit rises on higher auto production

(Reuters) - Canada's Martinrea International Inc (MRE.TO) posted a rise in quarterly profit, as its customers ramped up production of light vehicles in North America.

For the fourth-quarter, the auto parts maker earned C$18.5 million, or 22 Canadian cents a share, compared with C$15.5 million, or 19 Canadian cents a share, a year ago.

Revenue rose by about 46 percent to C$714.8 million.

The company forecast first-quarter net earnings of 28 Canadian cents to 32 Canadian cents a share on revenue of C$690 million to C$710 million.

Shares of the company closed at C$9.90 on Tuesday on the Toronto Stock Exchange.

Reporting by Arnav Das Sharma in Bangalore; Editing by Viraj Nair

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