Delphi says it has been hurt by North American production cutbacks at its biggest customer General Motors Corp.
The supplier received a 703 m$ tax benefit in the latest quarter and took a 595 m$ charge to write down the assets of discontinued operations.
Delphi says revenue in the quarter fell 4% to 5.3 b$
Sales to customers other than GM rose 3% to 3.5 b$ to account for 65% of Delphi’s revenue from 60% a year earlier.
For the full year, Delphi lost 3.1 b$, an improvement from its 5.5 b$ loss a year earlier. The company’s loss from continuing operations was 2.3 b$ vs. 5.1 b$ a year earlier.