Mexican Media Brands
Delphi Doubles Net Profit
Delphi Automotive LLC hiked its revenue 11% to $4.2 billion and more than doubled net income to $298 million in the fourth quarter of 2013.
#economics
Share
Delphi Automotive LLC hiked its revenue 11% to $4.2 billion and more than doubled net income to $298 million in the fourth quarter of 2013. Operating income grew 10% to $1.8 billion.
The company which supplies electronics, safety and thermal systems says sales for the period advanced 14% in Asia, 9% in North America and 7% in Europe. Revenue fell 6% in South America.
For the full year, Delphi's sales rose 6% to $16.5 billion, adjusted operating income climbed 10% to $1.4 billion and net income advanced 9% to $1.2 billion.
The company says its revenue in 2013 grew 11% in Asia, 5% in North America and 2% in South America but dropped 6% in Europe.
Delphi expects global vehicle production to grow 3% in 2014. It projects that this year's revenue will reach $17.2 billion-$17.6 billion and adjusted operating income will total $1.95 billion-$2.05 billion. The company forecasts 10% growth in earnings per share.
RELATED CONTENT
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.