10:03 AM EST - Magna International Inc. : reported a third-quarter net loss of US$215 million, or $1.93 per share, as sales fell 9 percent from a year earlier and it booked sizable restructuring and writedown charges. The Ontario-based global auto parts maker cut its dividend in half and again ''significantly'' reduced its full-year sales expectations. Magna, reporting in U.S. dollars, had earned $155 million, $1.38 per share, in the third quarter of 2007. Sales in the latest quarter were $5.53 billion, down from $6.08 billion a year ago. Magna International Inc.
shares T.MG.A are trading down $4.20 at $36.80.
