BusinessFebruary 9, 1998
BUSINESS MEMO: RECORD EARNINGS FOR DANA
Dana Corp., headquartered in Toledo, Ohio, has announced all-time high sales and earnings for 1997. Sales exceeded $8 billion for the first time. Full-year sales of $8.3 billion were up 8 percent from 1996 sales of $7.7 billion. Profits jumped 21 percent to $369 million. Earnings per share increased 18 percent to $3.54...
Dana Corp., headquartered in Toledo, Ohio, has announced all-time high sales and earnings for 1997.
Sales exceeded $8 billion for the first time. Full-year sales of $8.3 billion were up 8 percent from 1996 sales of $7.7 billion. Profits jumped 21 percent to $369 million. Earnings per share increased 18 percent to $3.54.
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Sales for the fourth quarter were $2.1 billion. Net income was $84 million for the quarter, and earnings per share increased to 81 cents per share.
Dana's announcement marked the first time the company has reported sales of $2 billion or more in each of its four quarters, and the first time the company exceeded $2 million in the fourth quarter.
Founded in 1904, Dana operates facilities in 29 countries and employs more than 46,000 people. A local Dana facility is the Spicer Axle Division at 2075 Corporate Circle.
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