Financial Overview
|
(in million dollars) |
| |
FY2010 |
FY2009 |
Rate of change (%) |
Factors |
| Overall |
| Net Sales |
11,954.6 |
9,739.6 |
22.7 |
- |
| Gross Profit |
1,018.3 |
360.2 |
182.7 |
- |
| Seating |
| Sales |
9,395.3 |
7,812.9 |
20.3 |
- |
| Electrical Power Management Systems |
| Sales |
2,559.3 |
1,926.7 |
32.8 |
- |
Contracts
-The Company supplies its SoyFoam(TM), a soybean oil-based foam material, to the 2011 Ford Explorer seats. SoyFoam(TM) is up to 24 percent renewable and offers up to 67 percent reduction in volatile organic compounds (VOCs) emissions. The material is currently on the Ford Taurus and Mustang platforms and will launch in three additional Ford programs later in 2010. In 2004, a partnership was formed between Ford and Lear for commercializing SoyFoam(TM) applications with the initial collaboration was concentrated on the molding of headrest and armrest components. The Company also offers its Dynamic Environmental Comfort System (DECS)(TM), a seat system using layered, renewable materials, to Ford. DECS(TM), which is currently on the 2010 Fusion Hybrid, provides up to a 50 percent weight savings and reduces VOCs by up to 70 percent. (From a press release on June 23 2010)
Awards
-The Company announced that the Company was awarded General Motors 2009 Supplier of the Year award. (From a press release on March 30, 2010)
R&D Expenditure
|
(in million dollars) |
| |
FY2010 |
FY2009 |
FY2008 |
| Overall |
Approx. 81 |
Approx. 83 |
Approx. 113.0 |
Patents
-The Company has over 100 patents and patents pending in its high-power product segment.
R&D Structure
-Technology development is conducted worldwide at its six advanced technology centers and at its product engineering centers.
R&D Facilities
| Gobal innovation and technology center |
Southfield,
Michigan |
-Develop and integrate new concepts
-Its central location for consumer research, benchmarking, craftsmanship and industrial design activity |
| High Power Global Center of Excellence |
Southfield,
Michigan |
-Support growth opportunities in the hybrid and electric vehicle market through the development of high-power and hybrid electrical systems and components. |
