January 14, 2014 / 2:25 PM / in 4 years

Dana reports 2013 sales above estimates

Jan 14 (Reuters) - Auto parts supplier Dana Holding Corp reported 2013 sales slightly above analysts’ estimates and said it expected demand across most regions to remain “mostly stable” in 2014.

Dana’s shares rose as much as 2 percent to $19.25 in trading before the bell on Tuesday.

The company, which cut its full-year revenue and profit forecast in October, has been hurt by weak demand in the commercial construction and mining industries as well as lower expectations for Class 8 vehicle production in North America.

Dana, which makes drivetrain technologies and sealing systems, said on Tuesday it expected commercial vehicle demand to pick up in North America but the global mining market to remain soft this year.

The company said it expected to report sales of $6.77 billion for 2013. Analysts on average expected sales of $6.74 billion, according to Thomson Reuters I/B/E/S.

Maumee, Ohio-based Dana forecast sales of $6.8 billion-$6.9 billion for 2014, below the average analyst estimate of $6.98 billion.

The company said it would discuss its financial performance at the Deutsche Bank Global Auto Industry Conference in Detroit later in the day.

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