fourth-quarter earnings fell sharply from the year-ago period, as the soft automotive market and currency woes hit the bottom line, but the company's results still matched analysts' expectations.
The Toledo, Ohio, auto-parts supplier said fourth-quarter earnings before unusual charges totaled $2 million, or 1 cent a share. The company earned 87 cents a share in the same period a year earlier. Fourteen analysts polled by
First Call/Thomson Financial
expected the company to earn a penny a share in the latest quarter.
Sales for the fourth quarter fell to $2.7 billion from $3.2 billion for the same period last year. The company recently reduced its workforce by nearly 10,000 employees and closed 11 facilities worldwide.
Shares of Dana recently gained 47 cents, or 2.8%, to $17.46 on the
New York Stock Exchange