Visteon raises forecast as costs fall

Thu Nov 7, 2013 7:06am EST

Nov 7 (Reuters) - Auto parts maker Visteon Corp raised its earnings forecast for 2013 after its third-quarter profit nearly tripled due to cost cuts and higher sales of climate control systems.

The company, which also makes in-vehicle entertainment and driver information systems, raised its full-year forecast for adjusted EBITDA to $680 million-$700 million from $660 million-$690 million.

Net income attributable to the company rose to $43 million, or 85 cents per share, in the quarter ended Sept. 30, from $15 million, or 28 cents per share, a year earlier.

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