Dana´s year-end earnings down on market conditions

TOLEDO, Ohio (Feb. 13)—Dana Corp. reported net income of $334 million on sales of $12.3 billion for the year ended Dec. 31 compared to year earlier net income of $513 million on sales $13.2 billion. For the fourth quarter, Dana took a loss of $84 million on net sales of $2.7 billion. To combat poor automotive market conditions, Dana in recent months has taken a number of actions, including reducing its work force by 10,000 and closing 11 plants. The automotive supplier is projecting the first quarter of 2001 will look similar to 2000´s fourth quarter.