Delphi has reported a Q4 2005 loss of $US828m, including $589m of non-cash impairment charges related to long-lived assets, goodwill and intangible assets, that was nonetheless well up on the $4.9bn loss a year ago.
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The net loss for the full year of $2.4bn, including $629m of non-cash impairment charges related to long-lived assets, goodwill and intangible assets compared to 2004’s net loss of $4.8bn.
This reflected revenue decreases and related pricing pressures stemming from a substantial reduction in GM’s North American vehicle production, coupled with continued increased commodity costs, the company said in a statement.
Fourth quarter revenue of $6.8bn was down from $7.0bn in 2004.
Non-GM revenue for the quarter was up 7% to $3.7bn, representing 54% of Q4 revenues. Non-GM growth was again offset by a 14% year-over-year decline in GM revenues.
Full-year revenue was off from $28.6m to $26.9bn.
Non-GM revenue of $14.1bn was up 7% from $13.2bn a year ago. For the year, 52% of revenues came from customers other than GM.
GM revenues declined $2.6bn or 17% year-over-year.
Delphi’s US under-funded pension plan status at 31 December, 2005 was $4.1bn compared to $4.3bn a year previously.
