Visteon has posted a quarterly loss, partly because of the deconsolidation of a joint venture.
The supplier reported a Q1 2012 net loss of US$29m, or 56 cents a share, compared with a profit of $39m, or 75 cents a share, a year ago, Reuters reported.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The net loss includes $63m of restructuring and related costs.
Hyundai-Kia accounted for approximately 32% of Visteon’s first-quarter product sales, with Ford taking 26%, Renault-Nissan 10% and PSA Peugeot-Citroen 5%. Asia accounted for 43% of total product sales while Europe represented 36%, North America 16% and South America 5%, Visteon said in a statement.
“To deliver improving returns, we are investing in and winning new business in our climate and electronics businesses,” said chairman and CEO Donald Stebbins.
