USA: Dana reports wider Q4 loss
Citing slashed OEM production schedules as an explanatory factor, Dana has announced wider Q4 loss and a net loss for the year of $298 million, a sharp reversal on 2000's net income of $334 million. Dana reported a fourth quarter net loss of $298 million ($2.01 per share) after net non-recurring charges of $284 million. The loss for the quarter, excluding the non- recurring items, was $14 million, or 9 cents per share on a diluted basis. In the fourth quarter of 2000, the net loss was $84 million (53 cents per share) after net non-recurring charges, and income excluding non-recurring items was $2 million (1 cent per share).
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