Visteon announces full-year results for 2010

Automotive supplier Visteon has announced its financial results for 2010, reporting full-year sales of $7.5bn (£4.6bn), an increase of $781m or 12 per cent compared with 2009.

Net income for full-year 2010 was $1bn and included $933m of net reorganisation gains in connection with the company’s emergence from Chapter 11 (of the US Bankruptcy Code) on 1 Oct 2010.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for full-year 2010 was $614m, an increase of $160m compared with $454m recorded in the previous year.

For full-year 2010, the company generated $174m of cash from operating activities, an increase of $33m compared with 2009.