Delphi raises full-year forecast following strong Q1 results

Results better than expected, giving company confidence to increase the outlook for 2014.

Components supplier Delphi has reported strong first-quarter results, with increases in revenue, US GAAP earnings per share, and adjusted operating income. "Overall, Delphi had an outstanding first quarter of 2014. We believe we are well-positioned for the remainder of 2014," CEO and president Rodney O'Neal said in a company statement. The first-quarter revenues jumped 6% compared with last year, to USD4.3 billion, on strong growth in North America and Asia and at the upper end of the company's forecast of USD4.2−4.3 billion. Specifically, Delphi saw 12% revenue growth in Asia, 8% in North America, and 2% in Europe, though South American revenues fell 9%.