Component maker Dana Holding Corp. reported a first-quarter profit compared with a loss a year ago, as its commercial-vehicle sales unit’s sales jumped.
Net income was $70 million, turning around a loss of $30 million. Adjusted earnings per share were 44 cents, compared with 34 cents a year ago.
Sales rose almost 10% to $1.98 billion, driven primarily by a rise in vehicle production, Maumee-Ohio based Dana said Wednesday.
Sales in its commercial vehicle segment, which makes axles, driveshafts and tire management systems, jumped 16% to $551 million, Reuters reported.
Dana revised its sales growth forecast for the year to 3% or more over 2011.