Canadian auto parts maker Magna's sales drop 7 pct

Thu May 7, 2015 8:13am EDT
 
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May 7 (Reuters) - Canadian auto parts maker Magna International Inc reported a 7 percent drop in quarterly sales, hurt by a stronger dollar.

However, net income attributable to Magna rose to $465 million, or $1.12 per share, in the first quarter ended March 31 from $393 million, or 88 cents per share, a year earlier.

Sales fell to $8.33 billion from $8.96 billion. (Reporting by Allison Martell and Shubhankar Chakravorty; Editing by Kirti Pandey)