Visteon has posted second-quarter net income of US$65m, down from US$75m in the comparable period last year.
Second-quarter adjusted EBITDA was US$187m, increasing from US$147m in the same time frame in 2012.
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Second-quarter sales were US$1.89bn – a rise of US$199m – while Visteon increased its 2013 full-year outlook for several key financial metrics based on improved business conditions compared with earlier planning expectations.
“We had a very strong quarter and continue to benefit from the momentum of our value-creating strategic plan,” said Visteon president and CEO, Tim Leuliette.
“I am pleased key performance metrics of sales, gross margin and adjusted EBITDA improved year-over-year in all regions, including Europe, where the overall economy remains weak.
“We are raising full-year guidance in view of our positive performance and generally favourable business conditions in key markets.
“Our strong technology is positively impacting our results as key new vehicle programmes with Visteon content – particularly in climate and electronics – launch around the world.
“We remain focused on implementing strategic actions to further drive value for customers and shareholders.”
