Article published November 04, 2009
Dana Holding’s quarter ends in loss, lower sales
Dana Holding Corp., the Maumee auto parts maker, yesterday reported a smaller third-quarter loss but a sharp decline in revenues.
The Fortune 500 firm said it had a quarterly loss of $46 million, or 45 cents a share, compared to a loss of $264 million, or $2.66 a share, during the same period a year ago. It credited its efforts to close factories and stronger orders from its main customer, Ford Motor Co., for its better performance.
Dana, which moved its headquarters out of Toledo to its suburban technology center in September, said its quarterly sales were $1.33 billion, down 31 percent from the prior year’s $1.93 billion.
“Our cost savings and operational improvements continued to take hold during the third quarter,” Chief Executive Jim Sweetnam said in the statement.
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