Dana's Q1 results prompt increase in full-year margin guidance

First-quarter results continue to show improving performance despite ongoing currency headwinds and volume challenges in South America.

Dana has announced financial results for the first quarter of 2015, reporting USD1.61 billion in sales. That figure, the company says, is 4% higher than in the same period of 2014, but only after adjusting for currency differences and the divestiture of its Venezuelan operations. The US-based global auto supplier's net income reached USD63 million in the first quarter, an increase of 85% year on year. Adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) reached USD176 million in the first quarter, delivering a profit margin of 10.9%, and were USD9 million higher than in the same period last year.