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Global sales boosts Tenneco's 4Q revenue 6 pct.

LAKE FOREST - Tenneco reported fourth quarter 2016 revenue rose 6 percent over the same period last year on stronger global light vehicle revenues, driven by both its Clean Air and Ride Performance product lines.

The manufacturer of automobile parts reported total revenue at $2.155 billion, On a constant currency basis, total revenue increased 9 percent to $2.212 billion, driven by a 13 percent increase in light vehicle revenue, nearly doubling global light vehicle industry production growth of 7%.

Net income for the quarter was $40 million, or 73 cents per diluted share, down from $68 million, or $1.17 per diluted share, for the same period in 2015. Adjusted net income rose to $92 million, or $1.67 per diluted share, versus $80 million or $1.39 per diluted share last year.

"We finished the year with a solid fourth quarter and another year of record results, with full-year total revenue again outpacing industry production," said Gregg Sherrill, Tenneco chairman and CEO. "We also continued to do an excellent job converting this top line growth to drive record-high earnings for 2016 and greater profitability with our seventh consecutive full year of value-add adjusted EBIT margin improvement."

The company expects total revenue growth of 5 percent in 2017.

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