Truck and auto component maker Dana Holding Corp.’s third-quarter profit fell on lower demand, the company said.
Net income declined to $56 million, or 37 cents per share, from $110 million, or 45 cents, a year ago. Sales fell 12% to $1.7 billion.
Commercial vehicle income before interest and taxes fell to $45 million from $61 million, while revenue fell to $471 million, from $611 million.
Dana trimmed its full-year sales forecast to a range of $7.2 billion to $7.3 billion from an earlier guidance of $7.5 billion to $7.6 billion.