Delphi which lost 853 m$ in the fourth quarter of 2006, says it cut that loss to 542 m$ for the same period last year.
Delphi says it has been hurt by North American production cutbacks at its biggest customer General Motors Corp.
Delphi says it has been hurt by North American production cutbacks at its biggest customer General Motors Corp.
The supplier received a 703 m$ tax benefit in the latest quarter and took a 595 m$ charge to write down the assets of discontinued operations.
Delphi says revenue in the quarter fell 4% to 5.3 b$
Sales to customers other than GM rose 3% to 3.5 b$ to account for 65% of Delphi’s revenue from 60% a year earlier.
For the full year, Delphi lost 3.1 b$, an improvement from its 5.5 b$ loss a year earlier. The company’s loss from continuing operations was 2.3 b$ vs. 5.1 b$ a year earlier.
