Friday, 5 August 2011

Visteon posts $26 million Q2 profit, raises revenue outlook

Supplier Visteon Corp., the former Ford Motor Co. parts unit, reported a quarterly profit and raised its full-year revenue outlook as it expects new business wins to generate annual sales of more than $250 million.
April-June net income was $26 million, or 50 cents a share, compared with a net loss of $201 million, or $1.55 a share, a year ago. Visteon raised its full-year revenue outlook to $8.0-$8.2 billion from $7.75-$7.85 billion previously.

"Visteon's sales and profitability continue to improve, reflecting both increased production volume from our customers and the actions we have taken to competitively position the company for success," Visteon CEO Donald Stebbins said in a statement.
"Our customers continue to recognize the value of our products, technology and global footprint in meeting their needs around the world." 


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