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Dana Posts Sales, Profit Gains
Dana Inc.’s third-quarter net income soared 38% to $95 million, and sales rose 8% to nearly $2 billion.
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Dana Inc.’s third-quarter net income soared 38% to $95 million, and sales rose 8% to nearly $2 billion.
Acquisitions and new contracts contributed to those results. The driveline supplier reports that its operating income in July-September climbed 6% to $147 million. Unfavorable exchange rates, mainly in South America, cut revenue growth by two percentage points.
Dana’s sales and profits through the first nine months of 2018 gained 15% to $6.2 billion and 52% to $327 million, respectively. The company affirms its full-year guidance, which anticipates 12% growth in sales to about $8 billion.
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