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Delphi Looks for Acquisitions
Delphi Automotive plc says it may spend as much as $3 billion this year on acquisitions related to its electronics, safety and powertrain operations.
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Delphi Automotive plc says it may spend as much as $3 billion this year on acquisitions related to its electronics, safety and powertrain operations.
CEO Kevin Clark tells Reuers an acquisition worth at least $1 billion is likely this year. He says the company will make smaller investments in software.
Delphi's first-quarter revenue fell 3% to $3.8 billion. Operating income rose 1% to $446 million. Net income plunged 66% to $229 million.
The company now expects this year's revenue to total about $15.5 billion, down from the $15.8 billion median it predicted earlier this month, because of unfavorable exchange rates.
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