Delphi releases first year of independent earnings

TROY, Mich. (Jan. 19)—Delphi Automotive Systems reported net income for 1999 increased 22 percent to $1.1 billion on sales of $29.2 billion for its first year of operation independent of General Motors Corp. About $350 million of that comes from the sale of brake hose and powertrain mounts. Reductions in overall structural costs, a streamlined product portfolio, the strong automotive industry and Delphi´s significant amounts of new booked business with companies other than GM contributed to its strong earnings, said J.T. Battenberg III, Delphi chairman, CEO and president.