TRW Automotive Holdings Corp.
) has introduced the Passive Entry system in Chrysler's new 2013
Ram trucks. This system will offer vehicle owners a greater level
of convenience than traditional Remote Keyless Entry (RKE)
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With this launch, the company will be able to offer its Radio
Frequency products to customers with enhanced value and features,
while integrating the entry system functional control into a
single electronic control unit.
The Passive Entry system, which is commercialized under the name
Keyless Enter 'n Go, operates by automatically unlocking the
vehicle doors with the detection of key-fob around the proximity
of the vehicle. There is no need for pressing any button for this
The other advantages available with this technology are lighting
of the interior of the vehicle during the night and starting the
engine by pressing a start/stop button. Moreover, it also alerts
the driver if the key fob is left in the car while the engine is
Key fobs store vehicle data including mileage, tire pressure,
vehicle service information and navigation map information. It
also stores personal settings for interior features including
seat and mirror positions, radio and air conditioning.
TRW reported adjusted earnings per share of $1.24 in the third
quarter of 2012, down 9.5% from $1.37 in the year-ago quarter.
The year-over-year decline in earnings was attributable to higher
effective tax rate. However, earnings surpassed the Zacks
Consensus Estimate by 8 cents per share.
Revenues in the quarter edged up 1.3% to $3.96 billion, beating
the Zacks Consensus Estimate of $3.90 billion. The increase was
driven by higher demand for the company's active and passive
safety products, higher vehicle production in North America and
improved global sales. This was partially offset by lower vehicle
production in Europe and adverse currency translation effects.
TRW Automotive is one of the world's largest manufacturers of
advanced technology products and services for the automotive
market. Together with continuous research and development, the
company is well positioned to benefit from the changing demands
of both established and emerging markets for advanced and
affordable safety solutions.
The major customers of TRW include
Ford Motor Co.
General Motors Company
). Currently, the company retains a Zacks Rank #3 (Hold).