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Chinese Market Boosts Visteon Profits
A surge in first-quarter sales in China offset a decline in North America for Visteon Corp.
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A surge in first-quarter sales in China offset a decline in North America for Visteon Corp.
The electronics supplier reports its first-quarter net income advanced 3% to $65 million. Pretax earnings before depreciation and amortization grew 3% to $104 million. Revenue advanced 1% to $814 million, led by a 24% jump to $98 million in China.
Visteon, which is based outside Detroit, derives 39% of its revenue from Asia, 33% from Europe and 28% from the Americas. The company captured $1.6 billion in new business in the first quarter, boosting its booked sales 4% to $20.1 billion compared with the end of 2017.
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