Visteon Q4 Profit Rises - Quick Facts

(RTTNews) - Visteon Corp. (VC) reported fourth-quarter net income attributable to company of $513 million, or $10.32 per share, compared to $39 million or $0.74 per share, last year. Visteon's fourth-quarter results include gains totaling $465 million related to the sale of its 50 percent ownership interest in Yanfeng Visteon Automotive Trim Systems Co., Ltd. (YFV), partially offset by $51 million of related taxes. Adjusted net income, which excludes the gain from the YFV sale and related taxes, restructuring and other transaction costs, was $96 million or $1.93 per share, for the quarter.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $1.45 for the quarter. Analysts' estimates typically exclude special items.

Sales were $1.96 billion, compared to $1.82 billion, a year ago. Hyundai-Kia accounted for approximately 35 percent of Visteon's fourth-quarter sales, with Ford Motor Company representing 25 percent, and Renault-Nissan and PSA Peugeot-Citroen each accounting for 4 percent. Analysts expected revenue of $1.93 billion for the quarter.

Visteon projects 2014 sales with a mid-point of $7.8 billion, and adjusted EBITDA with a mid-point of $680 million. Analysts expect the company to report 2014 revenue of $7.99 billion.