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REPORT: Visteon books $2M profit. Delphi makes $556M. Wait... wha?!
When is a profit not a profit? When it's the result of bankruptcy prevention measures, like Visteon's report of a $2 million profit during the first quarter of 2009. The auto supplier is reporting that each share earned two cents during the period, compared to a $105 million loss last year. The company's books saw a gain after sending its British operations into Chapter 11, an occurrence that will not be repeated. The one-time nature of the accounting measures doesn't bode well for the next three months, but Visteon also points out that its ... Read more →
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REPORT: Visteon books $2M profit. Delphi makes $556M. Wait... wha?! 7 months ago on Autoblog
When is a profit not a profit? When it's the result of bankruptcy prevention measures, like Visteon's report of a $2 million profit during the first quarter of 2009. The auto supplier is reporting that each share earned two cents during the period, compared to a $105 million loss last year. The ...
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