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Visteon’s Income Rises as Sales Slip
Visteon Corp. reports its net income in July-September climbed to $28 million from $5 million a year earlier, even though revenue dipped 5% to $770 million.
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Visteon Corp. reports its net income in July-September climbed to $28 million from $5 million a year earlier, even though revenue dipped 5% to $770 million.
Adjusted earnings before interest, taxes, depreciation and amortization climbed to $75 million from $65 million in the same period in 2015.
Third-quarter sales by Visteon’s electronic businesses declined 3% to $749 million. Visteon says the unit generates 41% of its business in Asia, 29% in Europe, 28% in North America and 2% in South America. Revenue from the company’s other operations fell to $21 million from $37 million, mainly because of the sale an automotive interiors operation in Germany last year.
Visteon expects its electronics unit to post full-year sales of $3.1 billion and an adjusted EBITDA between $325 million and $335 million.
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