Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
Automotive Business Review
Return to: ABR Home | Parts, Tires and Aftermarket | Electrical Products | News Listing

Delphi Automotive reports 7% increase in Q1 revenue to $4.1bn

ABR Staff Writer Published 05 May 2016

Delphi Automotive has reported a 7% increase in its first quarter 2016 revenue to $4.1bn due to continued volume growth in North America, Europe and Asia Pacific.

Net income from continuing operations was $320m and earnings from continuing operations of $1.15 per diluted share, compared to $288m and $0.99 per diluted share in the prior year period.

Interest expense for the first quarter totaled $41m, an increase from $32m in the prior year period.

During Q1, Delphi repurchased 5.60 million shares for about $370m under its existing authorized share repurchase program, leaving nearly $137m available for future share repurchases.

Delphi Automotive president and CEO Kevin Clark said: "Delphi's strong quarterly results reflect the execution of our strategy, which delivered solid revenue growth and margin expansion.

"We remain confident in our ability to deliver on our customer and shareholder commitments in 2016 and beyond."

Delphi Automotive has acquired PureDepth, a provider of multi-layer display technology that allows glasses-less 3D for cluster and other applications.

The acquisition will complement and enhance Delphi's fully-reconfigurable digital display product offerings.

Headquartered in Gillingham, UK, Delphi operates technical centers, manufacturing sites and customer support services in 44 countries.