Delphi reports Q1 earnings

Signals acquisition intentions

Delphi has announced revenue of USD3.8 billion and adjusted operating income of USD472 million in the first quarter, reports Reuters. In addition, Delphi CEO Kevin Clark said the auto supplier is looking to spend between USD1 billion and USD3 billion in 2015 on a large acquisition. Clark said the acquisition would relate to the company's traditional hardware − wire harnesses, connectors, and powertrain technology − and that the company also planned to make other, smaller software investments. He said, "It's always tough to predict larger transactions like that but based on where we sit today, I would say it's greater than a 50-50 probability [that it will happen in 2015]." Clark indicated the smaller investments would relate to advances in powertrain software.