kscarbel2 Posted February 10, 2017 Share Posted February 10, 2017 Transport Topics / February 9, 2017 Components supplier Dana saw fourth-quarter net income surge as a result of a tax benefit and a 5% increase in revenue compared with the same period in 2015. Net income for the period ended Dec. 31 was $489 million, or $3.34 per diluted share, compared with a net loss of $79 million, or 54 cents, in the fourth quarter of 2015. The 2016 results included a $490 million tax benefit compared with a tax expense of $92 million in the same period of 2015. Sales totaled $1.45 billion, compared with $1.38 billion in same period of 2015. Benefits from the stronger global light-vehicle market were partially offset by weaker demand in the commercial-vehicle and off-highway markets. Net income for the full-year was $653 million, or $4.38, compared with $180 million, or $1, in 2015. Sales were $5.8 billion, $234 million lower compared with 2015, primarily due to unfavorable currency translation, the company said. Quote Link to comment https://www.bigmacktrucks.com/topic/48687-dana-fourth-quarter-income-surges-on-revenue-rise-tax-break/ Share on other sites More sharing options...
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