Connersville News-Examiner
Visteon Corp. reported its third quarter earnings Tuesday showing the company lost money - but not at as high a rate as reported in 2005.
In a company press release, Visteon reported a net loss of $177 million or $1.38 a share in the July-September time period. That was an improvement from the same period last year when the company lost $207 million or $1.64 a share.
Sales for the third quarter of 2006 were $2.48 billion compared to $4.12 billion in the third quarter of 2005. Lower product sales were primarily due to the Oct. 1, 2005, transaction with Ford Motor Co. that transferred 23 Visteon facilities to Automotive Components Holdings LLC, a Ford-managed business entity.