BUSINESS MEMO: DANA EARNINGS

Dana Corp., headquartered in Toledo, Ohio, has announced second quarter sales results for the period ended June 30.

Sales were approximately $3.3 billion, down slightly from record sales of $3.4 billion during the second quarter last year.

Operating income for the quarter totaled $154 million, or $1.01 per share, including non-recurring expenses of $90.68 million after tax, reported net income for the period was $145 million, or 95 cents per share. A year ago, the company reported net income of $190 million or $1.14 per share during the second quarter .

Dana's six-month consolidated sales for 2000 were $6.8 billion, down slightly from the same period last year. Net income for the first two quarters was $390 million, or $2.50 a share. This total included net non-recurring income of $75 million after tax. Comparable results from 1999 were net income of $352 million, or $2.10 a share, including non-recurring charged of about $10 million after tax.

Founded in 1904, Dana operates 330 facilities in 32 countries and employs more than 86,000 people. A local Dana facility is the Spicer Light Vehicle Axle Division at 2075 Corporate Circle.