[Stay on top of transportation news: .]
Dana’s 4Q, Full-Year Earnings Improve
Component maker Dana Holding Corp. said its fourth-quarter and full-year income both improved, on higher vehicle production and acquisitions.
Net income for the quarter was $63 million, or 33 cents per share, turning around a loss of $21 million, or 14 cents, a year ago. Sales rose to $1.91 billion, from $1.56 billion.
Dana, which makes axles, drive shafts and transmissions, said sales from its commercial vehicle segment rose to $576 million for the quarter, from $374 million a year ago.
Earnings before interest, taxes, depreciation and amortization for the segment jumped to $59 million, from $35 million.
Full-year income jumped to $219 million, or $1.66 per share, from $11 million, or 79 cents, in 2010. Sales jumped 24% to $7.6 billion.
Maumee, Ohio-based said it expects adjusted earnings per share of $1.95 to $2.05 this year, and sales growth of at least 5%.
Dana also said that William Quigley, former chief financial officer of component maker Visteon Corp., will replace outgoing CFO Kevin Yost in March.
Ìý