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Visteon reports $153M loss in 1st-quarter versus slim profit a year ago

Visteon reports $153M loss in 1st-quarter versus slim profit a year ago

Auto parts maker Visteon Corp. on Wednesday reported a net loss of $153 million (euro112.46 million) in the first quarter compared with a profit of $3 million in the same quarter last year.
The Van Buren Township-based company lost $1.19 per share for the January-March quarter, compared with a profit of 2 cents per share in the same period a year ago.
This year's results included $50 million (euro36.75 million) of non-cash asset impairments due to the sale of its chassis operations as the former Ford Motor Co. parts operation continued with its multi-year restructuring plan.
Its revenue slipped to $2.93 billion (euro2.15 billion) from $2.96 billion a year earlier.
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On the Net:
http://www.visteon.com


Updated : 2021-07-25 02:03 GMT+08:00