Wabco’s First-Quarter Profit Rises

Wabco Holdings Inc. said Wednesday its net income rose 53% to $61.3 million, or 91 cents a share, from $40.1 million, or 58 cents, a year ago.

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

“We outpaced the industry performance in all regions of the world, led by our 36% growth in Asia. Commercial vehicle production in Europe, our largest market, grew by 10%, while our sales increased by 12%. Even in North America this quarter, where the market contracted by 27%, we succeeded in containing our sales decline to 14%,” said Chief Executive Officer Jacques Esculier.

Raising its full-year 2008 projections, Wabco said it expects sales growth between 9% and 12% for the year, up 1% from its previous guidance.