Bankrupt Dana Corporation has reported a first-quarter net loss of $US126m as it took charges for reorganisation and losses in discontinuing operations, Reuters reported.
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The loss amounted to 84 cents per share, compared with a profit of $16m, or 11 cents per share, a year earlier, Toledo, Ohio-based Dana said.
Net sales rose to $2.2bn in the quarter, from $2.15bn, a year earlier.
Reuters noted that Dana and 40 of its US subsidiaries filed for bankruptcy protection in March, a process that could take at least 18 months, and has since announced broad restructuring plans that include cost cuts and sale of non-core businesses.
Results included reorganisation charges of $55m and $21m of losses from operations listed as discontinued, Dana reportedly said in a quarterly report filed with the US Securities and Exchange Commission.
