Magna 2011 sales of 28.7 billion US dollars

Magna International recently announced its financial reports for the fourth quarter of 2011 and for the full year of 2011. The report shows that its sales for the whole year of 2011 were as high as 28.7 billion U.S. dollars, a year-on-year increase of 23%.

In 2011, Magna's pre-tax operating profit was $1.217 billion, net profit was $1.018 billion, and diluted earnings per share was $4.2. In 2010, Magna's pre-tax operating profit was $1.197 billion, net profit was $1.03 billion, and diluted earnings per share was $4.3.

In the fourth quarter of 2011, Magna’s sales were US$7.3 billion, a year-on-year increase of 13%; pre-tax operating profit was US$291 million. In the fourth quarter of 2010, Magna had sales of 6.4 billion U.S. dollars and pre-tax operating profit of 224 million U.S. dollars.

As for 2012, Magna expects sales to be between $28 billion and $29.5 billion, with an operating profit margin of about 5% and an income tax rate of about 26%.