Delphi swings into a profit
Delphi Corp. reported Monday that it’s third-quarter was profitable to the tune of $5.2 billion. The profit is due partly to a settlement and restructuring with General Motors Corp. With third quarter last year reporting a loss of $1.2 billion the profit is a welcome change.
Analysts warn though that the profit could be something of an anamoly. Some specific events took place this quarter that won’t happen again. The results include $5.7 billion from a GM settlement and restructuring agreements executed in September. Another concern is that revenue for the quarter fell to $4.4 billion from $5.3 billion a year ago.
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