* Fourth-quarter adj earnings $0.38/shr vs est $0.34/shr
* Records income tax benefit of $46 mln
* Revenue falls 15 pct
Feb 21 Auto parts supplier Dana Holding Corp's
quarterly revenue fell 15 percent as demand remained
weak, but the company reported higher profit on income tax
Net income attributable to the company rose 24 percent to
$88 million, or 41 cents per share, in the fourth quarter, from
$71 million or 33 cents per share, a year earlier.
The company recorded income tax benefits of $46 million in
Excluding restructuring and other charges, Dana earned 38
cents per share. Analysts on average expected earnings of 34
cents, according to Thomson Reuters I/B/E/S.
Revenue fell 15 percent to $1.6 billion, in line with
Dana supplies axles, drive shafts, ceiling and thermal
components for light, commercial and off-highway vehicles.
Sales at its second-largest unit - commercial vehicles -
which sells products for medium-and heavy-duty trucks, buses and
other commercial vehicles, fell 26 percent.
Sales of off-highway vehicle parts also dropped 17 percent.
Dana last month forecast full-year adjusted earnings of
$1.88 to $1.95 per share on sales of about $7.1 billion.
Shares of the company, which has a market value of about
$2.5 billion, closed at $16.62 on the New York Stock Exchange on