Visteon is to Ford as Delphi is to GM, Visteon Earnings, May 5, 2006
Delphi is clouding GM and XMSR production and output schedules, while Visteon earnings shinePosted by SSG5, 3:25 PMVisteon is to Ford as Delphi is to GM: Sirius is to Ford as XMSR is to GM. Delphi's woes are bringing GM and XMSR down, while positive Visteon earnings and outlook fail to lift SIRIDelphi and Visteon are parts suppliers to the auto industry. In 2000, when spin-offs were all the rage, Ford spun off Visteon and GM spun off Delphi. Delphi is in bankruptcy and looming strikes are creating a cloud over GM production and output. Delphi manufactures a significant % of hardware for XMSR, creating further uncertainty for the satellite radio provider.On the other hand, Visteon (VC) announced earnings this week that were very well received by Wall Street.Regarding SIRI and XMSR, a sector composed of just 2 competitors, this distinction has yet to be noticed by investors!Visteon Announces First Quarter 2006 Results and Raises Full Year GuidanceTuesday May 2, 7:00 am ET
Highlights * First quarter 2006 net income of $3 million - up $166 million versus 2005 * Strong momentum implementing three-year plan * Full-year 2006 EBIT-R guidance raised * Product sales of $2.8 billion * Significant business wins strengthen customer diversification
VAN BUREN TOWNSHIP, Mich., May 2 /PRNewswire-FirstCall/ -- Visteon Corporation (NYSE: VC - News) today announced improved first quarter results for 2006 showing strong progress toward implementing its three-year plan. For the first quarter 2006, Visteon reported net income of $3 million or $0.02 per share, a significant improvement over first quarter 2005 results of a net loss of $163 million, or $1.30 per share.For complete results: http://biz.yahoo.com/prnews/060502/detu002.html?.v=465/05/2006 03:16:00 PM
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