Visteon: 4Q Earnings Snapshot

VAN BUREN TOWNSHIP, Mich. (AP) _ Visteon Corp. (VC) on Thursday reported fourth-quarter net income of $18 million.

On a per-share basis, the Van Buren Township, Michigan-based company said it had net income of 64 cents. Earnings, adjusted for restructuring costs and non-recurring costs, were $1.06 per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share.

The auto parts supplier posted revenue of $787 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $797 million.

For the year, the company reported a loss of $56 million, or $2.01 per share, swinging to a loss in the period. Revenue was reported as $2.55 billion.

Visteon expects full-year revenue in the range of $2.88 billion to $3.03 billion.

Visteon shares have risen roughly 9% since the beginning of the year. The stock has increased 65% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VC at https://www.zacks.com/ap/VC

Categories: Business News