Visteon posts stronger-than-expected profit, raises outlook
DETROIT, Aug 8 (Reuters) - Automotive parts supplier Visteon Corp on Thursday posted a stronger-than-expected quarterly profit and boosted its full-year forecast.
Net income in the second quarter fell 13 percent to $65 million, or $1.29 a share, from $75 million, or $1.40 a share, a year earlier.
Excluding one-time items, the company earned $1.41 a share, far above the $1.06 analysts polled by Thomson Reuters I/B/E/S had expected.
Sales rose almost 12 percent to $1.89 billion, just above the $1.88 billion analysts had expected.
Visteon now expects its adjusted earnings before interest, taxes, depreciation and amortization to finish the year at $660 million to $690 million. It previously had forecast a range of $620 million to $660 million.