MAUMEE, Ohio (July 27, 2012)—Dana Holding Corp. saw its second quarter new income rise 26 percent to $86 million from a year earlier despite the impact of currency and soft commercial vehicle volumes in Brazil, the company said.
While sales for the automotive supplier climbed slightly to $1.95 billion, Dana was awarded fuel-cell development contracts from three auto makers during the quarter.
“We continue to invest in new driveline, sealing, and thermal-management technologies aimed at three key market value drivers—improved fuel economy, reduced emissions, and lower cost of ownership,” said President and CEO Roger Wood. “These technologies continue to attract the interest and orders of customers around the world.”
For the first six months of 2012, net income grew more than four-fold to $156 million, with sales increasing 5.2 percent to $3.93 billion.