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Visteon’s Fourth-Quarter Sales Surge 21%
Visteon Corp.'s revenue in October-December 2014 to $2 billion in 2014 from $1.7 billion a year earlier.
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Visteon Corp.'s revenue in October-December 2014 to $2 billion in 2014 from $1.7 billion a year earlier. But net income swung from a $545 million profit to a $114 million loss in large part because of losses on discontinued operations.
Visteon's full-year sales grew 18% to $7.5 billion. Strong performance by its electronics business boosted adjusted earnings before interest, taxes, depreciation and amortization 16% to $678 million. But the company, which netted $775 million in 2013, posted a loss of $206 million for the year.
Last year's results were affected by the sale of Visteon's climate control and non-core interiors operations, and the acquisition of Johnson Controls' auto electronics business and Cooper Standard Automotive's thermal and emission control units.
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