Dana Inc. reports strong first quarter with sales of US$ 1.7 billion
Ohio-based axle and powertrain manufacturer Dana Inc.’s reported a strong first quarter with sales of US$ 1.70 billion, a 17% increase compared with US$ 1.45 billion in the same period of 2016. Its net income rose 67% to US$ 75 million due to new business gains, higher end-market demand in global light-truck markets, and improved demand in global off-highway end markets.
Currency was a slight headwind of US$ 6 million due to the relative strength of the U.S. dollar against the euro, British pound, and Mexican peso, partially offset by a stronger Brazilian real. The impact of acquisitions added $80 million in sales compared with the prior year.
The auto supplier said higher sales were offset somewhat by higher transaction costs related to acquisitions such as U.S. Manufacturing Corp., a company that makes axle housing and driveline shafts in the Detroit suburb of Warren, Michigan.
Among its business lines, Dana said light-vehicle revenue reached US$ 761 million, up by 24%, and off-highway business climbed 36% to US$ 328 million.
Dana Inc., formerly Dana Holding Corp., is headquartered near Toledo, Ohio. Over the NAFTA region Dana operates 23 facilities, 12 locations in U.S., six in Mexico and five in Canada.
Its Mexican facilities are located in Chihuahua, Monterrey, Queretaro, Tlalnepantla, Tlaxcala and Toluca.