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) systems.
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 technology.
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 still running.
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. (F - Free Report) , General Motors Company (GM - Free Report) and Volkswagen AG (VLKAY - Free Report) . Currently, the company retains a Zacks Rank #3 (Hold).