Tuesday, October 16, 2001
Delphi down 82%
Dayton Business Journal
Delphi Automotive Systems' third quarter earnings plunged 82 percent, fueled by reduced production by U.S. automakers, the Michigan-based manufacturer said today.
Net earnings for the quarter were $26 million, or 5 cents per share, compared with $148 million, or 26 cents per share, for the same period last year.
Wall Street estimates had ranged from nil to 10 cents per share, according to Thomson Financial/First Call projections.
Delphi, the world's largest auto parts manufacturer, employs 11,500 people at nine plants in the Dayton area. Company stock was down 17 cents this morning in New York Stock Exchange action, at $13 per share.
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