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Automotive supplier Visteon posts narrows Q2 losses
Highlights
- Continued year-over-year financial improvement.
- Net loss narrowed by $25 million.
- Operating income improved $44 million.
- EBIT-R improved $63 million.
- Cash provided by operations of $133 million; free cash flow of $53 million.
- Product sales outside North America account for 76 percent of total.
- $1.5 billion cash balances; bond transactions significantly reduce 2010 maturities.
- Sale of Swansea, UK; 27 of 30 restructuring actions now completed.
- Maintains full year 2008 EBIT-R and free cash flow guidance.
- Continued year-over-year financial improvement.
- Net loss narrowed by $25 million.
- Operating income improved $44 million.
- EBIT-R improved $63 million.
- Cash provided by operations of $133 million; free cash flow of $53 million.
- Product sales outside North America account for 76 percent of total.
- $1.5 billion cash balances; bond transactions significantly reduce 2010 maturities.
- Sale of Swansea, UK; 27 of 30 restructuring actions now completed.
- Maintains full year 2008 EBIT-R and free cash flow guidance.
