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Dana’s First-Quarter Sales, Income Soar
Dana Inc.’s net income in January-March surged by two-thirds to $75 million. Revenue climbed to $1.7 billion from $1.4 billion in the first quarter of 2016.
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Dana Inc.’s net income in January-March surged by two-thirds to $75 million. Revenue climbed to $1.7 billion from $1.4 billion in the first quarter of 2016.
The Ohio-based supplier of powertrain components says its growth for the period was driven by acquisitions, new business, an expanding high-end market for light trucks and improved demand for off-highway vehicles.
Dana affirms its earlier guidance for full-year sales between $6.2 billion and $6.4 billion compared with $5.8 billion in 2016. The company anticipates its adjusted earnings before interest, taxes, depreciation and amortization this year will grow to between $695 million and $725 million from $660 million last year.
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