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Dana Reports Smaller 4Q Loss, Boosts 2011 Outlook

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2/28/2011 11:00:00 AM

Dana Holding Corp. reported a smaller fourth-quarter loss than a year ago and a net profit for the full year, while boosting its 2011 earnings and revenue outlook.

The truck axle and frame maker lost $14 million, or 16 cents a share, compared with a loss of $236 million, or $2.02 per share, a year ago.

For the year Dana earned $10 million, compared with a loss of $431 million in 2009.

Quarterly sales rose $100 million to $1.6 billion, while full-year sales jumped 17% to $6.1 billion, the company said in a statement.

Dana said its 2011 revenue will rise least 17% over 2010, up from a previous forecast of 10% growth, and that its earnings per share will be $1.50 to $1.60 per, up from an earlier guidance of $1.30 to $1.40 per share.

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