India, July 17 -- Friday, Autoliv, Inc. (ALV) announced financial results for the second quarter, reporting a net income of $101 million, or $1.35 a share, compared to last year's $168 million, or $2.16 a share.
The decline in net income was primarily due to lower operating income during the quarter, caused by previously communicated restructuring activities in Turkiye.
On an adjusted basis, the company's net income increased to $181 million, or $2.43 a share, from $171 million, or $2.21 a share, in the previous year.
Net sales grew 3.3 percent, to $2,803 million from $2,714 million in the prior year.
Concurrently, the company announced its decision to gradually discontinue its manufacturing operations in Turkiye, which include the prod...