May 1, 2008 / 2:57 PM / in 10 years

Magna International EPS dip, beat estimates

TORONTO (Reuters) - Autoparts maker Magna International Inc MGa.TO reported lower first-quarter earnings per share on Thursday, despite higher sales.

The Canadian company said at its annual general meeting that it had earnings per share of $1.78 for the quarter ended March 31, and revenue of $6.6 billion.

Analysts had been expecting, on average, earnings of $1.57 a share and revenue of $6.35 billion, according to Reuters Estimates.

Reporting by John McCrank; Editing by Peter Galloway

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