Investors’ enthusiasm spilled into Visteon’s market as shares rose $0.27, or 375% to end Friday’s trading session. In pre-market hours, the company reported strong year-end and fourth quarter financial results:
Visteon Announces Fourth-Quarter and Full-Year 2009 Results; Reports Net Income.
VAN BUREN TOWNSHIP, Mich., Feb. 26, 2010 –
Full-Year 2009 Financial Summary
- Product sales of $6.42 billion – down $2.7 billion from prior year
- Net income of $128 million – up $809 million from prior year
- Adjusted EBITDA of $454 million – up $96 million from prior year
- Cash generated by operating activities of $141 million – up $257 million from prior year
- Year-end cash balance of nearly $1.1 billion
- Product quality and employee safety at best-ever levels
Fourth Quarter 2009 Financial Summary
- Product sales of $1.97 billion – up $420 million year-over-year
- Net income of $276 million; adjusted EBITDA of $230 million
- Cash generated by operating activities of $292 million
Visteon Corporation (OTC: VSTNQ) today announced improved year-over-year fourth-quarter and full-year 2009 financial performance, reflecting ongoing operational improvements, cost reductions and restructuring benefits, and some slight recovery of global vehicle production volumes.
While investors speculate Visteon Corporation may emerge from bankruptcy as counterpart Vermillion, Inc. (OTC: VRML) had in early 2010, traders have flocked to what has become a liquid trading vehicle.
TimelessWealth.net has published an educational video covering technical concepts to Visteon’s market. The two part video:
- Breaks down the intraday chart and suggests effective trading techniques.
- Analyzes the weekly chart where resistances, supports, and technical signals are identified.
To access the video visit: http://timelesswealth.net/ta/visteon.html