Delphi’s 3Q Profits Rise
Vehicle components maker Delphi Automotive PLC said its third-quarter profit increased on higher sales.
The company earned $293 million, or 87 cents per share, up from $292 million, or 84 cents, a year ago.
Revenue rose 10% to $4 billion. Adjusted for fluctuations in exchange rates and acquisition, the company said revenue rose 3%.
Delphi said the rise in revenue reflects 9% growth in North America that offset declines of 5% in Europe and 2% in South America.
“Overall, we had a great quarter. Although we remain cautious, the European market seems to be stabilizing. I continue to be optimistic about Delphi’s future,” CEO Rodney O’Neal said in a statement.
The Troy, Mich., company designs and manufactures electronics, powertrain systems and electrical systems for commercial vehicles and truck fleets.
