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Industry: Email Alert RSS FeedProfit forecast turns sour at Visteon; Analysts detail 5 ways for supplier to be profitable.(Suppliers)
Automotive News Europe, November, 2004
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Byline: Julie Armstrong
"We expect 2004 will be a defining year for Visteon."
Visteon Chairman Peter Pestillo uttered those words in January in a financial outlook that predicted a profit of as much as $130 million.
But last week Visteon posted a $1.36 billion (currently [euro]1.06 billion) net loss for the third quarter on sales of $4.154 billion.
The loss came despite a 7 percent increase in revenue from the same quarter a year ago. The company posted a $168 million net loss in the third quarter of 2003.
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Visteon faces lower production from its largest ...
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