Auto parts maker Magna's 2015 revenue forecast misses estimates

Wed Jan 14, 2015 7:24am EST
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Jan 14 (Reuters) - Canada's Magna International Inc , an auto parts maker and contract vehicle manufacturer, forecast lower-than-estimated revenue for fiscal 2015.

Magna forecast total revenue of $34.4 billion to $36.1 billion for the year, short of analysts' average estimate of $37.65 billion, according to Thomson Reuters I/B/E/S.

The Aurora, Ontario-based company said it expects operating margin to be in the low 7 percent range next year, higher than the company's estimated margins of about 6.9 percent for 2014. (Reporting By Shubhankar Chakravorty in Bengaluru; Editing by Savio D'Souza)