Dana Restructuring Helps Rebound - aftermarketNews

Dana Restructuring Helps Rebound

Auto parts maker Dana Corp. credited its restructuring plan and an increase in heavy-truck production for its fourth-quarter rebound. Toledo-based Dana had a fourth-quarter profit of $68 million, or 45 cents per share. Excluding onetime items, the company earned 41 cents per share, or 1 cent higher than the expectations of analysts surveyed by Thomson First Call.

TOLEDO, OH — Auto parts maker Dana Corp. credited its restructuring plan and an increase in heavy-truck production for its fourth-quarter rebound.

Toledo-based Dana had a fourth-quarter profit of $68 million, or 45 cents per share. Excluding onetime items, the company earned 41 cents per share, or 1 cent higher than the expectations of analysts surveyed by Thomson First Call.

In the year-ago quarter, Dana had a loss of $9 million, or 6 cents per share. Those results and the 2002 year earnings were affected by nonrecurring charges associated partly with the restructuring.

Sales for the quarter rose to $2.5 billion from $2.4 billion a year ago.

For all of 2003, Dana had a profit of $222 million, or $1.49 a share. Excluding costs, the company earned $1.23, or 2 cents higher than analysts’ expectations. The year before, Dana had a loss of $182 million, or $1.22 a share.

Sales for the year were $10.07 billion, down from $10.28 billion in 2002.

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