* Sales rise 55 percent to $1.42 bln
* Raises ‘10 forecast to $2.60-2.80/share, from $2.20-2.50 (Adds details on result, CEO comment)
DETROIT July 30 (Reuters) - Auto parts maker BorgWarner Inc (BWA.N) posted stronger-than-expected quarterly earnings on Friday and raised its full-year earnings forecast due to stronger vehicle production in North America, Europe and China.
BorgWarner, which produces turbochargers, transmission components and other parts, said it expects its growth to outpace the market overall and for company record earnings for the year.
The auto parts maker reported net income of $82.8 million, or 68 cents per share, in the second quarter, compared with a net loss of $35.9 million, or a loss of 31 cents per share, a year earlier.
Excluding nonrecurring items, BorgWarner earned 78 cents per share. Analysts on average expected it to earn 67 cents per share on that basis, according to Thomson Reuters I/B/E/S.
A “volume shift in Europe toward vehicles with higher BorgWarner content, including diesels, also boosted results,” Chief Executive Timothy Manganello said in a statement.
Sales rose to $1.42 billion in the quarter from $916.2 million a year earlier. BorgWarner said it expected sales to rise 32 percent to 35 percent in 2010 from last year.
BorgWarner raised its 2010 earnings forecast to a range of $2.60 per share to $2.80 per share, from a prior forecast for $2.20 to $2.50 per share. Analysts expect $2.42 per share. (Reporting by Bernie Woodall, editing by Gerald E. McCormick, Dave Zimmerman)