Delphi Automotive Systems Corp. reported second quarter net income of $164 million compared to $424 million for second quarter 2000.
Second quarter results do not include $92 million in one-time restructuring charges. Sales revenue was $6.9 billion, compared to $7.8 billion a year ago.
The company noted that North American vehicle production stabilized during the quarter but remains at much lower levels than last year. Despite lower production volumes, Delphi has continued to diversify its customer base. Some 32% of its sales in second quarter came from sources other than General Motors, compared to 28% of sales in second quarter 2000.
Sales in Delphi’s Electronics & Mobile Communication sector totaled $1.27 billion, compared to $1.39 billion in second quarter 2000. Operating income was $100 million versus $149 million for the same period last year. Mobile multimedia product sales totaled $102 million with an operating loss of $7 million. This compares to sales of $58 million a year ago, with an operating loss of $8 million.
Sales in the Safety, Thermal & Electrical Architecture totaled $2.4 billion, compared to $2.65 billion. Operating income was $118 million versus $291 million for second quarter 2000. Sales in the Dynamics & Propulsion business sector totaled $3.38 billion, compared to $3.81 billion for the same period last year. Operating income was $118 million versus $255 million.
Second quarter results do not include $92 million in one-time restructuring charges. Sales revenue was $6.9 billion, compared to $7.8 billion a year ago.
The company noted that North American vehicle production stabilized during the quarter but remains at much lower levels than last year. Despite lower production volumes, Delphi has continued to diversify its customer base. Some 32% of its sales in second quarter came from sources other than General Motors, compared to 28% of sales in second quarter 2000.
Sales in Delphi’s Electronics & Mobile Communication sector totaled $1.27 billion, compared to $1.39 billion in second quarter 2000. Operating income was $100 million versus $149 million for the same period last year. Mobile multimedia product sales totaled $102 million with an operating loss of $7 million. This compares to sales of $58 million a year ago, with an operating loss of $8 million.
Sales in the Safety, Thermal & Electrical Architecture totaled $2.4 billion, compared to $2.65 billion. Operating income was $118 million versus $291 million for second quarter 2000. Sales in the Dynamics & Propulsion business sector totaled $3.38 billion, compared to $3.81 billion for the same period last year. Operating income was $118 million versus $255 million.
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