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Visteon Boosts Sales, Earnings
Visteon Corp. hiked second-quarter sales 61% to 812 million and posted net earnings of $2.2 billion, reversing a year-earlier loss of $155 million.
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Visteon Corp. hiked second-quarter sales 61% to 812 million and posted net earnings of $2.2 billion, reversing a year-earlier loss of $155 million. The supplier's operating income swung from a $141 loss to a $2.2 billon profit.
Sales by Visteon's electronic business jumped 76% to $780 million, mainly because of its acquisition of the global electronic operations of Johnson Controls Inc. The purchase doubled Visteon's earnings before interest, taxes, depreciation and amortization to $60 million from $29 million.
The company confirms its full-year guidance, which includes electronics-related sales of $3 billion and EBITDA between $245 million and $265 million.
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