Delphi Q3 profit rises on higher demand in Asia, North America

Posted on 10/25/2014 10:31:55 AM

Delphi Automotive News Today an increase of 12.5 percent in quarterly profit as growth in demand for auto parts in Asia and North America.

Net income attributable to Delphi for $ 271 million, or 87 cents per share, compared with $ 305 million increase over the same period last year, or $ 1.02 per share, for the third quarter ended September 30, .

Revenue rose 3.2% to 4.14 million.

Delphi's revenues grew 9% in Asia and 6% in North America, the third quarter ended 30 September.

Car sales in the US in the third quarter was the best eight years, rose 9.4 percent in September, signaling consumer spending is recovering. Fifth of all retail spending in the United States is the vehicle. September sales in the US rose 6 percent to 124,000.

Delphi also benefited from activities in Europe and South America restructuring.

"...... (Score) reflects the focus on adjusting our manufacturing capacity, benefits at the current level of automobile production in Europe and South America, our ongoing rationalization scheme," said in a statement. .

Delphi is GM controversy after participating this year, it was revealed that the company provided the ignition switch for some older GM and at least 13 people dead.

Delphi has produced more than 200 million General Motors replacement switch was recalled earlier this year.

Delphi 2014 also raised earnings estimates at the lower end last Friday of $ 4.955.10 reduced to $ 5.00 - $ 5.10 per share.

Analysts expected $ 5.04 per share, according to Thomson Reuters I / B / E / S.

Excluding items, the company earned $ 1.16 per share. Analysts on average expected earnings per share $ 1.13, $ 4.20 billion and earnings.

Delphi's headquarters in suburban Detroit, ranked 13 Global 100 supplier of automobile manufacturers worldwide sales of $ 15.5 billion in 2013 Automotive News list.

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