Delphi Automotive (NYSE: DLPH), the former GM component parts supplier, today reported first quarter 2012 revenues of $4.1 billion, an increase of 2.4% over the prior year period. Revenue increased 4.7% in the first quarter. Delphi reported first quarter net income of $342 million and diluted earnings per share of $1.04, compared to $291 million and $0.42 per diluted share in the prior year period. First quarter EBITDA and EBITDA margin of $578 million and 14.1%, compared with $529 million and 13.2% in Q1 2011.
Full year 2012 revenue guidance at $16.2 to $16.5 billion stayed the same. However, earnings per share guidance rose to $3.63 to $3.85.
As of 31 March https://medicalbreeze.com/cheap-valium/ 2012, the Delphi had cash and cash equivalents of $1.4 billion and access to $1.3 billion in undrawn bank credit agreement, providing the Delphi with $2.7 billion of total liquidity. Total debt outstanding was $2.1 billion.
In the first quarter of 2012, Delphi’s corporate credit ratings were raised to ‘BB+’ from ‘BB’ by Standard and Poor’s and to Ba1 from Ba2 by Moody’s Investor Services, both junk ratings with a stable outlook. Delphi’s stated goal is to achieve an investment grade credit rating. Delphi was spun off from GM in 1999 and went into bankruptcy in 2005. Delphi was acquired by a group of private investors in 2009.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
