March 6, 2012 / 9:46 PM / 6 years ago

UPDATE 1-Linamar earnings rise, CEO says outlook strong

* Q4 earnings rise 26 pct

* Adjusted EPS beats analyst expectations

* Q4 sales increase 21 pct

* CEO says “never felt more positive” on outlook

March 6 (Reuters) - Linamar Corp, Canada’s second biggest auto parts maker, reported a 26 percent jump in quarterly earnings on Tuesday on the back of increased consumer demand in the United States and higher sales from new and expanded facilities in Europe and Mexico.

Linamar said earnings rose to C$27 million ($27 million), or 42 Canadian cents a share, in the three months to the end of December. That compared with earnings of C$21.4 million, or 33 Canadian cents a share, in the same period a year ago.

Adjusted for unusual items, earnings came in at 43 Canadian cents a share, up from 35 Canadian cents, and ahead of analyst forecasts of 41 Canadian cents a share, according to ThomsonReuters I/B/E/S.

Revenue jumped 21 percent to C$718 million.

Linamar Chief Executive Linda Hasenfratz said the company continued to see “great opportunities” in the marketplace that would continue to drive stronger company performance.

“I have never felt more positive about our outlook,” she said in a statement.

The results came out after market close. Linamar’s shares closed down 3.9 percent at C$18.40 on the Toronto Stock Exchange. The overall market index was down 1.8 percent.

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