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Visteon Swings to a Quarterly Loss
Visteon Corp. posted a $29 million net loss in the January-March period of this year compared with a $39 million profit a year earlier.
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Visteon Corp. posted a $29 million net loss in the January-March period of this year compared with a $39 million profit a year earlier.
Revenue fell 7% to $1.7 billion, dented by unfavorable exchange rates and weaker pricing.
Earnings in the latest quarter were reduced by $63 million in restructuring expenses, included plant-closing costs in Spain. Operating income slid 6% to $150 million.
Visteon cut its full-year revenue forecast to $6.6 billion-$7 billion, down $500 million from its February outlook. The company says it expects lower sales because it has divested several businesses.
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