Delphi's net profit reached $290 million in the first quarter

Delphi, a US auto parts supplier, recently announced its first quarter 2011 results. Delphi said that the company’s net profit for the quarter reached 291 million U.S. dollars, higher than the 215 million U.S. dollars for the same period last year.

According to data released by Delphi, the company’s first-quarter revenue rose by US$587 million from US$3.41 billion in the same period last year to US$3.997 billion, up 17.2% year-on-year. At the same time, the company’s transaction volume with GM in the first quarter accounted for about 20% of the company’s total net revenue, which was basically the same as last year.

Delphi Corporation said that the company’s gross profit for the current quarter increased from US$562 million (profit rate of 16.5%) in the same period last year to US$644 million (profit rate of 16.1%); and its operating profit also increased from US$324 million in the same period of 2010 ( The profit rate of 9.5%) rose to US$412 million (margin rate of 10.3%). In addition, the company’s restructuring costs fell from US$26 million to US$9 million.

It is noteworthy that although the company’s net profit increased, its net cash from operating activities fell from the previous 246 million US dollars to 156 million US dollars.

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