Visteon Posts 1Q Loss on Restructuring Costs

Visteon Corp. reported a first-quarter loss on Wednesday, citing restructuring charges.

The truck and automobile parts maker reported a $29 million first-quarter loss, or 56 cents a share, compared with a profit of $39 million, or 75 cents, a year earlier.

Sales fell 7.2% to $1.72 billion. Visteon, Van Buren Township, Mich., said it took a $63 million charge for restructuring and related costs.

Visteon said it expects its full-year sales to be between $6.6 billion and $7 billion, down from a previously predicted $7.1 billion to $7.5 billion.