Visteon Corporation has completed the restatement of its financial statements for the years ended 31 December, 2004, 2003 and 2002 and has filed an amended 2004 annual report with the US Securities and Exchange Commission.

Visteon also filed an amendment to its current report to provide certain financial information required in connection with the closing of the transactions with Ford Motor Company on 1 October.

Visteon's reported results for the years 2002- 2004 are within the ranges estimated last month when the company said that restated accounts will increase its previously reported US$1.499 billion after-tax net loss for 2004 by $35-40 million, or approximately 3%.

The previously reported after-tax net loss of $1.207 billion for 2003 will increase by $20-25 million, or approximately 2%, and its previously reported after-tax net loss of $368 million for 2002 by $10-15 million, or approximately 4%.

Visteon has now reported a net loss for the first nine months of 2005 of $1.608 billion, or $12.78 per share, including nearly $1.2 billion in special charges, and a net loss for full year 2004 of $1.536 billion, or (-$12.26) per share, including nearly $1.3 billion in special charges.

Visteon's audit committee and outside counsel recently completed an independent review of the accounting for certain transactions originating in the company's North American purchasing group. Enquiries established that some expenses for freight, raw materials and other supplier costs originating in North America were recorded in periods after 31 December 2004, and should have been recorded in prior periods. The latest filings correct these errors and make other adjustments.