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Dana's 2Q Income Jumps; Company Boosts Outlook

7/28/2011 10:00:00 AM

Component maker Dana Holding Corp. said Thursday its second-quarter income jumped from a year ago and the company raised its earnings outlook for the year.
The truck axle and frame maker earned $61 million, or 32 cents per share, compared with $1 million, or zero cents, a year ago. Adjusted earnings per share were 45 cents, up from 21 cents.

Sales rose more than 25% to $1.93 billion, Maumee, Ohio-based Dana said in a statement.

It boosted its full-year revenue growth outlook to 25% over last year from a previous 20%, and said it expects to earn between $1.60 and $1.70 per share, up from a previously forecast $1.55 to $1.65.

Dana said it broke ground in May on a new technical center in Jiangsu, China, its 14th globally, to strengthen engineering support for customers in all vehicle markets. It expects the center to be fully operational by the end of 2011.

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