Jump to content

Dana Fourth-Quarter Income Surges on Revenue Rise, Tax Break


Recommended Posts

Transport Topics  /  February 9, 2017

Components supplier Dana saw fourth-quarter net income surge as a result of a tax benefit and a 5% increase in revenue compared with the same period in 2015.

Net income for the period ended Dec. 31 was $489 million, or $3.34 per diluted share, compared with a net loss of $79 million, or 54 cents, in the fourth quarter of 2015.

The 2016 results included a $490 million tax benefit compared with a tax expense of $92 million in the same period of 2015.

Sales totaled $1.45 billion, compared with $1.38 billion in same period of 2015.

Benefits from the stronger global light-vehicle market were partially offset by weaker demand in the commercial-vehicle and off-highway markets.

Net income for the full-year was $653 million, or $4.38, compared with $180 million, or $1, in 2015.

Sales were $5.8 billion, $234 million lower compared with 2015, primarily due to unfavorable currency translation, the company said.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    • No registered users viewing this page.
  • Create New...