Delphi’s Fourth-Quarter Profits Rise
Component maker Delphi Automotive PLC said its fourth-quarter profit and revenue increased on strong growth in North America and Asia.
The company earned $298 million, or 97 cents per share, up from $136 million, or 43 cents, a year ago.
Revenue rose 11% to $4.2 billion. Adjusted for fluctuations in exchange rates and acquisition, the company said revenue rose 8%.
Delphi said the rise in revenue reflects 9% growth in North America and 15% growth in Asia that offset declines of 6% in South America.
Full-year net income increased to $1.2 billion, or $3.89 per share, from $1.1 billion, or $3.33 per share, a year prior. Revenue increased 6% to $16.5 billion.
“In 2013, we were able to deliver exceptional value to both our global customers and our shareholders. Our strong performance provides significant momentum as we enter 2014,” CEO Rodney O’Neal said in a statement.
The Gillingham, U.K.-based company designs and manufactures electronics, powertrain systems and electrical systems for commercial vehicles and truck fleets.
