WHY US

Business Wire India is the only Indian news distribution platform to partner with ANI, PTI, IANS, and UNI Testimonials - Whenever we have something important to tell, Business Wire India is often our first point of call, Rajnish Wahi, Senior VP, Corporate Affairs & Communication, Snapdeal. I define Business Wire India as a facilitator for the communications industry, Sudeshna Das, Executive Director, ComConnect. Business Wire India is very good in terms of credible and authentic news distribution to media. It adds authenticity to all content, Arneeta Vasudeva, Vice President, Ogilvy. Business Wire India is the only Indian news distribution platform to partner with ANI, PTI, IANS, and UNI The BW India team is very professional and prompt, we have been working seamlessly with BW for many years now, Prathibha Nair, Assistant Manager - Corporate Communications, Wipro Limited. Businesswire helps us in securing coverage on prominent media outlets across US, Europe and India and the detailed tracking reports allow us to monitor our press release. All members of the servicing team are cooperative and efficient and they truly augment our outreach efforts, Aniruddha Basu, PR & Corporate Communications, L&T Technology Services

DELPHI Q2 RESULTS REFLECT STABILIZING NORTH AMERICAN VEHICLE PRODUCTION

  • Thursday, July 19, 2001 5:39PM IST (12:09PM GMT)
32% Sales to Non-GM Customers, Solid Restructuring and Portfolio Progress
 
Mich., Troy, United States: Delphi Automotive Systems Corp. (NYSE: DPH) today reported second quarter net income of $164 million, or $0.29 per share, in line with First Call consensus estimates. Delphi's net income margin was 2.4 percent, compared to 5.5 percent in the second quarter of 2000. Sales revenue was $6.9 billion, down 11 percent from $7.8 billion in the same period of 2000. Delphi generated strong operating cash flow of $312 million, excluding $92 million of employee separation and related payments associated with previously announced restructuring plans. "North American vehicle production stabilized during the second quarter, although at much lower levels than last year," said Alan S. Dawes, chief financial officer of Delphi. "Ongoing soft aftermarket sales and a weaker euro and Brazilian real also contributed to reduced revenues. "Despite lower production volumes, Delphi continued to diversify its sources of revenue during the period, achieving 32 percent sales to customers other than General Motors, compared to 28 percent in the same period of 2000," Dawes said. "The transition of Delphi's portfolio to higher-tech, more electronically enhanced products continues to gain strong acceptance from our broad customer base." Delphi's actions to manage its costs in a reduced vehicle environment included ongoing headcount reductions in the quarter and a $15 million decrease in selling, general and administrative expenses over Q1 2001, providing an impetus for the company's stronger second quarter performance. "This SG&A reduction represents a $47 million savings year-over-year, despite $4 million of added SG&A expenses associated with the acquisition of Delphi Mechatronic Systems," Dawes said.


Click here for Media Contact Details

Pushpa Nair, pushpa@business2media.com, +91-11-3326022,

Submit your press release

Delphi Automotive Systems Ltd

Delphi Automotive Systems Ltd
Copyright © 2019 Business Wire India. All Rights Reserved.