Visteon , which emerged from bankruptcy last year, posted a quarterly profit and raised its full year revenue outlook for a second time as new business generates annual sales of more than US$250m.
The company said it won a substantial amount of new business in the April-June second quarter with about half to be manufactured in Asia. The company forecast full year revenue of US$8bn-$8.2bn, up from its previous forecast of $7.75bn-$7.85bn.
April-June net income was US$26m compared with a net loss of US$201m a year ago. Product sales rose 15% to US$2.18bn.
Visteon said its biggest customer during the quarter was Hyundai , 32% of sales, followed by Ford.
Asia accounted for 41% of total product sales, followed by Europe, 37%, North America, 15% and South America, 7%.