It took Delphi four years to exit bankruptcy, but after a major restructuring and staggering losses, the parts maker is once again ready to sell shares to the public. The Detroit News reports that Delphi will offer a $550-million stock offering later this month. The move comes after Delphi announced in May of 2011 that it would seek an Initial Public Offering, though the $550 million sum is nearly half of the originally announced $1 billion IPO.

Though Delphi suffered massive losses over the past decade, the past two years have been very solid. The parts maker made $703 million in 2010, and through nine months of 2011 Delphi has earned $911 million. Investors will likely like the fact that the $911M in profits came on only $12.1 billion in sales. That's a very healthy margin of 16.3 percent, and with auto sales seemingly only going up, future profits could look even more impressive.

Delphi's labor costs are another reason for the vastly improved profits margins. Delphi got rid of 45,000 U.S. employees during bankruptcy, and now 90 percent of the auto supplier's workforce is located in low-wage countries. That's not a good sign for U.S. manufacturing jobs, but it's likely exactly what investors want to hear.

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