Visteon’s Third-Quarter Profit Rises
Vehicle parts manufacturer Visteon Corp. posted a third-quarter profit and a rise in revenue from the same time last year.
The Van Buren Township, Mich., component manufacturer said it earned $60 million, or 87 cents a share, on quarterly revenue of $1.7 billion.
In the 2012 quarter, Visteon reported a net income of $34 million, or 37 cents a share, on revenue of $1.6 billion.
“Fueled by strong technology, we achieved year-over-year improvement in our core climate and electronics businesses. We continue to effectively manage fixed costs, including focusing engineering expenses on technology areas that will drive growth in those businesses,” CEO Tim Leuliette said in a statement.
Electronics sales increased $36 million to $340 million, with the largest increases in North America and Europe, but interior sales declined $14 million to $293 million from last year on weakened economic conditions in Europe and South America.
