* Q2 EPS $1.15 vs $1.30 year ago
* Q2 revenue up 24 pct
* Sees FY11 sales of $27.5-$28.9 bln
* Sees FY11 capital budget of $1-$1.1 bln (Adds sales, capital budget outlook, details on segments)
Aug 5 (Reuters) - Magna International posted a lower second-quarter profit, as higher commodity costs and weak performance at some of its European operations offset higher sales, and the company forecast better growth outside Europe and North America.
The Aurora, Ontario-based auto-parts maker forecast total sales of $27.5-$28.9 billion for the year.
Magna, which set its capital budget for this year at $1-$1.1 billion, had limited growth at its European and North American operations in the second quarter, versus a 48 percent rise in revenue at its Rest of World unit.
“We continue to expand in a number of regions included in our Rest of World segment, and expect considerable future sales growth in this segment,” the company said in a statement.
For April-June, the company earned $282 million, or $1.15 a share, down from $294 million, or $1.30 a share, a year ago. Excluding unusual items, earnings per share fell by 28 cents.
Revenue, however, rose 24 percent to $7.34 billion.
Analysts had forecast earnings of $1.36 a share, on revenue of about $7 billion, according to Thomson Reuters I/B/E/S.
Shares of the company closed at C$43.97 on Thursday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar; Editing by Joyjeet Das)