Vehicle parts maker Visteon Corporation has reported a narrower third-quarter operating loss after cutting costs, Reuters reported.
Visteon reduced its loss before charges to $US35 million, or 27 cents a share, from $74 million, or 57 cents a share, a year earlier, Reuters said.
Including a $17 million after-tax charge for European restructuring, Visteon reported a net loss of $52 million, or 40 cents a share, compared with a year-earlier net loss of $95 million, or 74 cents a share, according to Reuters.
Contrary to the usual trend, production at Visteon’s former parent and largest customer, Ford, was up from last year as US car sales remained healthy, Reuters noted.
Reuters said Visteon has almost continually been restructuring since its spinoff from Ford in 2000, cuttin thousands of jobs, seeking business from other vehicle makers and fighting over price reductions demanded by Ford.
For the fourth quarter, Visteon projects sales of $4.6 billion and net income of $15 to $35 million, Reuters added.