MAUMEE, Ohio—Dana Inc. showed growth in both sales and net income for the third quarter of 2018, according to its recently released financial report.
Net sales increased by 8 percent to $1.98 billion for the three months ending in September, according to the news release. Year-to-date, they rose by 15 percent to $6.17 billion.
Growth came from continued high demand across all three end markets and conversion of sales backlog, according to Dana.
Net income rose by 32 percent to $96 million for the quarter, primarily because of increased operating earnings associated with higher sales, Dana said. For the year, it saw an increase of 48 percent of net income to $334 million.
By segment, light vehicle's sales rose by 9 percent to $879 million for the quarter, and by 14 percent to $2.7 billion for the year. Similarly, commercial vehicle increased by 9 percent to $406 million in the quarter, and by 14 percent to $1.21 billion for the year. Off-highway rose by 11 percent to $425 million for the third quarter, and for the year saw the largest increase out of the set with 27 percent to $1.4 billion. Power technologies decreased by 1 percent to $268 million for the quarter, but rose by 1 percent to $849 million for the year.