Dana Holding Posts Loss on Weak Auto Sales

Updated from 11:50 a.m. EDT

Dana Holding (DAN Quote) reported a fourth-quarter loss and said sales slumped from a year ago due to lower vehicle production and currency changes.

The Toledo, Ohio-based auto parts manufacturer reported a loss of $256 million, or $2.64 a share, compared with a year-ago loss of $257 million, or $1.71 a share. The latest quarter had fewer common shares outstanding, accounting for the difference in the per-share calculation. The year-ago results also included a loss of 19 cents a share from discontinued operations.

Dana, which emerged from Chapter 11 bankruptcy reorganization last year, said revenue dropped 29% from the same quarter a year earlier to $1.52 billion, as sales were impacted "by both sharply declining North American vehicle production and unfavorable currency changes." ...