Lear Siegler Inc. reported that net income...

Lear Siegler Inc. reported that net income for its fiscal year and fourth quarter ended June 30 fell 73% and 45%, respectively, from a year earlier. The Santa Monica-based firm said the results for both periods reflected a one-time, $31-million after-tax charge to increase the company’s aircraft product liability reserve. The company also noted that both periods included a $17-million extraordinary gain resulting from the disposition of six operations. Lear’s aerospace/technology segment reported a sharp decline in operating profit.

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