TRW Automotive Holdings Corp. withdrew its full-year 2008 sales and earnings guidance on Thursday, citing steeper than expected vehicle production declines in major global markets.

The auto supplier previously forecast a profit of 90 cents to $1.10 per share for the year on sales of roughly $15.3 billion. The company's full-year projections included expected pretax restructuring and asset impairment charges of about $95 million.

Analysts polled by Thomson Reuters forecast full-year earnings of 88 cents on revenue of $15.2 billion.

"Since issuing our guidance on October 30th, major markets have experienced significant declines in production well beyond our forecasts in late October," said TRW President and Chief Executive John Plant in a statement. "We continue to align capacity and reduce our cost structure globally in response to the difficult industry conditions."

TRW said it continues to expect positive free cash flow in its fourth quarter. The company is scheduled to report fourth-quarter and full-year results in late February 2009.

TRW shares gained 8 cents, or 2.9 percent, to $2.81 on Thursday. The stock has traded between $2.06 and $29.56 during the past 52 weeks.