Tenneco net income, revenue jump

Auto parts producer Tenneco Inc., which has a plant in Kettering, reported substantially higher net income Friday, $30 million, or 49 cents per diluted share, for the third quarter of 2011, well over the $10 million, or 17 cents per diluted share, in net income reported for the same quarter in 2010.

For the year to date, Tenneco reported net income of $127 million, or $2.06 per diluted share, above the $57 million, or 94 cents per diluted share, reported at the same point last year.

Total revenue for the quarter was put at $1.773 billion, up 15 percent from $1.542 billion in the same quarter a year ago.

“Our revenue this quarter reflects Tenneco’s excellent growth opportunities with our position on strong-selling vehicles worldwide and expansion into the commercial vehicle segment, where our launch execution is on track and delivering results,” Gregg Sherrill, Tenneco chairman and chief executive, said in a statement.

Shares of Tenneco (NYSE: TEN) were trading down $2.89 early this morning, at about $33.55 a share.

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