10:19 AM EST - Magna International Inc. : reported a profit for the second quarter, compared to a loss last year, reflecting improved level of light vehicle production in North America and Western Europe that led to a 63% increase in revenues. The Aurora, Ontario-based company reported second-quarter net income of $293 million U.S. compared to a loss of $205 million U.S. last year. For the first quarter of the fiscal, the company's net income was $223 million U.S. or $1.97 U.S. per share. Sales in the quarter increased 63% to $6.05 billion U.S. from $3.70 billion U.S. in the second quarter of 2009. Magna International Inc.
shares T.MG.A are trading up $5.71 at $81.44.
