Delphi has posted fourth quarter profit down 44.1% on currency movements and higher commodity costs, but the figures beat analyst estimates.

Delphi's Q4 net income fell to US$192m from $344m a year earlier. However, the company generated earnings per share of US$1.39, beating analyst estimates and ahead of the previous year's US$1.32.

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The company reported fourth quarter 2015 revenue of US$3.9bn, an increase of 3% from the prior year period, reflecting volume growth, partially offset by unfavourable currency impacts. Adjusted for currency exchange, commodity movements, the acquisition of HellermannTyton Group PLC and the divestiture of the company's Reception Systems business, revenue increased by 11% in the fourth quarter. Delphi said this reflects growth of 18% in Asia, 13% in Europe and 7% in North America, partially offset by a decline of 26% in South America.

For the full year 2015, Delphi reported revenue of US$15.2bn, up 6% adjusted for currency exchange, commodity movements, acquisitions and divestitures. Excluding special items, earnings from continuing operations of US$5.22 per diluted share, up 6%. Full-year adjusted operating income was put at US$1,971m for a margin of 13.0%, up 60 basis points.

"Delphi's global team delivered strong financial and operational results in 2015," said Kevin Clark, Delphi president and chief executive officer. "Despite the impacts of a challenging global marketplace, we grew organic revenue 6 percent, expanded operating margins 60 basis points and generated $1.7 billion of cash flow from operations. We also had a record of more than $26 billion in new business bookings. Delphi is well-positioned heading into 2016 and will continue to deliver on both our customer and shareholder commitments." 

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