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Visteon swings to profit in Q4

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Visteon swings to profit in Q4

4088403 said its fourth-quarter normalized net income was 68 cents per share, compared with the S&P Capital IQ consensus estimate of 77 cents per share.

The per-share result swung to a profit from the prior-year loss of 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $27.6 million, compared with a loss of $19.0 million in the prior-year period.

The normalized profit margin climbed to 1.9% from negative 2.4% in the year-earlier period.

Total revenue increased year over year to $809.0 million from $788.0 million, and total operating expenses decreased from the prior-year period to $758.0 million from $781.0 million.

Reported net income came to a loss of $70.9 million, or a loss of $1.75 per share, compared to a loss of $41.9 million, or a loss of 95 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled $1.55 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.50.

EPS was a loss of $1.18 in the prior year.

Normalized net income was $67.3 million, compared with a loss of $54.0 million in the prior year.

Full-year total revenue increased 25.5% on an annual basis to $3.25 billion from $2.59 billion, and total operating expenses grew 21.9% year over year to $3.06 billion from $2.51 billion.

he company said reported net income totaled a loss of $1.9 million, or a loss of 5 cents per share, in the full year, compared with a loss of $164.0 million, or a loss of $3.58 per share, the prior year.Visteon Corp.

4088403 said its fourth-quarter normalized net income was 68 cents per share, compared with the S&P Capital IQ consensus estimate of 77 cents per share.