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Visteon: 1Q Earnings Snapshot

VAN BUREN TOWNSHIP, Mich. (AP) _ Visteon Corp. (VC) on Thursday reported first-quarter net income of $14 million.

On a per-share basis, the Van Buren Township, Michigan-based company said it had profit of 49 cents. Earnings, adjusted for restructuring costs, were 53 cents per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.

The auto parts supplier posted revenue of $737 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $710.5 million.

Visteon expects full-year revenue in the range of $2.9 billion to $3 billion.

Visteon shares have increased 32 percent since the beginning of the year. The stock has dropped 31 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VC at https://www.zacks.com/ap/VC