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Delphi Electronics

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  • 17-05-2005 7:13pm
    #1
    AMurphy
    Closed Accounts Posts: 1,237 ✭✭✭


    Given this dismal report on Delphi Electronics, it might be worth considering before purchasing your next auto.

    MorningStar
    Analyst Note 05-13-2005

    Delphi DPH announced a massive first-quarter loss and lowered its forecast for the remainder of 2005 on Friday. We're maintaining our fair value estimate of $0 per share. Sales dropped 7% to $6.9 billion, and Delphi recorded a staggering $409 million loss in net income compared with a gain of $53 million in the year-ago period. Continuing cutbacks at General Motors GM led Delphi to lower its 2005 revenue forecast by about $1 billion. The firm also now expects the bottom line to be worse than the $350 million loss previously forecast.


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