Delphi has unveiled second quarter net income up US$37m to US$367m and revenue up 6% to US$4.2bn compared to the previous year, mainly reflecting the acquisition of the Motorised Vehicles Division from FCI Group.
Adjusted for the impacts of currency exchange, commodity movements, acquisitions and divestitures, revenue increased by 1% in the second quarter.
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The company reported second quarter US GAAP (generally accepted accounting principles) net income of US367m compared to US$330m previously.
The current year quarterly US GAAP results include special items consisting of restructuring-related charges and acquisition-related integration costs.
Excluding these special items, the company reported adjusted second quarter earnings of US$388m compared to adjusted earnings of US$336m.
“Delphi had another quarter of outstanding operating performance,” said Delphi CEO and president, Rodney O’Neal. “Our operating model and lean cost structure allowed us to achieve record margins and increase earnings per share.
“We continue to remain focused on leveraging our leading portfolio of innovative technology solutions to enhance shareholder value.”
