Truck and auto component maker Dana Holding Corp. said Thursday its fourth-quarter profit rose from a year ago, though its revenue declined.
Net income rose to $88 million, or 41 cents per share, from $71 million, or 33 cents, a year ago. Revenue dropped 15% to $1.6 billion.
Full-year net income rose to a record $300 million, or $1.40 per share, from $219 million, or $1.02, in 2011. Sales slipped to $7.2 billion from $7.5 billion.
Dana reiterated its 2013 sales target of $7.1 billion, with adjusted earnings before interest, taxes, depreciation and amortization of $800 million to $820 million.
The maker of Spicer brand drive shafts and axles forecast its 2013 adjusted earnings will be $1.88 to $1.95 per share, excluding its share repurchase program.