Follow Visteon:
http://twitter.com/visteon
http://www.youtube.com/user/visteon?feature=results_main
http://blog.visteon.com/
http://www.linkedin.com/company/2865?trk=vsrp_companies_res_photo&trkInfo=VSRPsearchId:522343161373310041683,VSRPtargetId:2865,VSRPcmpt:primary
https://www.facebook.com/VisteonCorporation
https://www.instagram.com/visteon/
http://www.slideshare.net/VisteonCorporation
http://i.youku.com/u/UNDgyMjA1NjUxNg==?spm=a2h0k.8191407.0.0
Contacts:
Media:
Jim Fisher
734-710-5557
734-417-6184 – mobile
jfishe89@visteon.com
Investors:
Kris Doyle
734-710-7893
kdoyle@visteon.com
| VISTEON CORPORATION AND SUBSIDIARIES | |||||||||||||||
| CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | |||||||||||||||
| (Dollars in Millions, Except Per Share Data) | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||
| September 30 | September 30 | ||||||||||||||
| 2019 | 2018 | 2019 | 2018 | ||||||||||||
| Sales | $ | 731 | $ | 681 | $ | 2,201 | $ | 2,253 | |||||||
| Cost of sales | (647 | ) | (599 | ) | (1,981 | ) | (1,938 | ) | |||||||
| Gross margin | 84 | 82 | 220 | 315 | |||||||||||
| Selling, general and administrative expenses | (52 | ) | (40 | ) | (167 | ) | (139 | ) | |||||||
| Restructuring expense, net | (1 | ) | (18 | ) | (2 | ) | (28 | ) | |||||||
| Interest expense, net | (3 | ) | (2 | ) | (7 | ) | (6 | ) | |||||||
| Equity in net income of non-consolidated affiliates | 1 | 3 | 7 | 10 | |||||||||||
| Other income, net | 2 | 7 | 7 | 17 | |||||||||||
| Income before income taxes | 31 | 32 | 58 | 169 | |||||||||||
| Provision for income taxes | (13 | ) | (9 | ) | (16 | ) | (42 | ) | |||||||
| Net income from continuing operations | 18 | 23 | 42 | 127 | |||||||||||
| Income from discontinued operations, net of tax | — | 1 | — | 2 | |||||||||||
| Net income | 18 | 24 | 42 | 129 | |||||||||||
| Net income attributable to non-controlling interests | (4 | ) | (3 | ) | (7 | ) | (8 | ) | |||||||
| Net income attributable to Visteon Corporation | $ | 14 | $ | 21 | $ | 35 | $ | 121 | |||||||
| Comprehensive (loss) income | $ | (4 | ) | $ | 8 | $ | 21 | $ | 91 | ||||||
| Comprehensive (loss) income attributable to Visteon Corporation | $ | (5 | ) | $ | 8 | $ | 17 | $ | 87 | ||||||
| Earnings per share data : | |||||||||||||||
| Basic earnings per share | |||||||||||||||
| Continuing operations | $ | 0.50 | $ | 0.68 | $ | 1.25 | $ | 3.99 | |||||||
| Discontinued operations | — | 0.03 | — | 0.07 | |||||||||||
| Basic earnings per share attributable to Visteon Corporation | $ | 0.50 | $ | 0.71 | $ | 1.25 | $ | 4.06 | |||||||
| Diluted earnings per share | |||||||||||||||
| Continuing operations | $ | 0.50 | $ | 0.68 | $ | 1.24 | $ | 3.95 | |||||||
| Discontinued operations | — | 0.03 | — | 0.07 | |||||||||||
| Diluted earnings per share attributable to Visteon Corporation | $ | 0.50 | $ | 0.71 | $ | 1.24 | $ | 4.02 | |||||||
| Average shares outstanding (in millions) | |||||||||||||||
| Basic | 28.0 | 29.3 | 28.1 | 29.8 | |||||||||||
| Diluted | 28.1 | 29.5 | 28.2 | 30.1 | |||||||||||
