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.
