Companies / United States
Dana Begins Return To Health
May 2008 | Company Finance AlertAfter leaving its bankruptcy status behind in 2007, US automotive parts supplier Dana has shown an improvement in its performance for the first quarter of the year. Revenues were up by 8% year-on-year to US$2.31bn in Q108, compared with US$2.14bn in the previous year. Meanwhile, net income of US$685mn contrasted with a loss of US$92mn in Q107. The downside when looking ahead to the remainder of the year, as far as Chairman John Devine is concerned, is the rising price of steel. Dana estimates a hit of between US$70mn and US$100mn from steel costs alone in 2008.
Sorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
If you would like to subscribe to Americas Automotives Insight and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Americas Automotives Insight please click on the trial link below.
