Delphi posts better-than-expected quarterly profit
DETROIT Feb 5 (Reuters) - Vehicle parts maker Delphi Automotive Plc on Tuesday posted a stronger-than-expected quarterly profit and forecast an increase in 2013 results.
Net income in the fourth quarter fell to $136 million, or 43 cents a share, from $290 million, or 88 cents a share, a year earlier.
Excluding one-time items, Delphi earned 90 cents a share, 3 cents above what analysts polled by Thomson Reuters I/B/E/S had expected.
For 2013, Delphi said it expected adjusted earnings of $4.12 to $4.38 a share on revenue of $16.2 billion to $16.6 billion. Delphi's adjusted earnings last year were $3.84 a share on revenue of $15.5 billion.
Analysts were expecting 2013 earnings of $4.25 a share on revenue of $16.58 billion.