Visteon turns a profit(!)

"Restructuring, improving base operations and growing global business" were the Big Three for Visteon in first quarter, who turned a profit, despite lower revenues. Following the news, shares rose $1.14 to $7 on the New York Stock Exchange, a substantial 19 percent improvement.

Net income for first quarter was $3 million, a whopping $166 million improvement over this time last year. This, despite revenues dropping 41 percent, mostly due to the transfer of 23 plants back to Ford Motor Company.

[Source: The Associated Press via]

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