Wabco Reports Higher Loss Due to Fine

Wabco Holdings said Wednesday it lost $365.4 million, or $5.68 a share in the second quarter, largely due to a fine.

The loss compares with a loss of $17 million a year ago, or 27 cents a share.

The fine from the European Commission cost Wabco $400.4 million in the quarter. Excluding that fine, the company had a profit of 63 cents per share.

Wabco Vehicle Control Systems makes electronic braking, stability, suspension and transmission automation systems for heavy-duty commercial vehicles.

“This quarter, for the first time in two years, every region of the world showed year-on-year growth in truck and bus production,” said Chief Executive Officer Jacques Esculier.

Sales jumped 65% to $512.3 million, up from $316 million a year ago.