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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.
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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.
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