Dana Holding Corp.'s (DAN) net income available to common stockholders for the first-quarter was $34 million or $0.19 per share, compared with $62 million or $0.33 per share for the same period in 2012.
The company's adjusted earnings per share was $0.28, compared with $0.44 in the first quarter of 2012.
Sales were $1.68 billion, compared with $1.96 billion for the same period in 2012. Lower market volumes, principally the North American commercial vehicle and European and Asian off-highway markets, reduced year-over year sales by about $159 million, with light-vehicle program roll-offs and a divestiture a year ago reducing sales by an additional $101 million.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.42 per share on revenues of $1.75 billion for the quarter. Analysts' estimates typically exclude special items.
The company affirmed its fiscal 2013 adjusted earnings outlook in a range of $1.88 to $1.95 per share, and Sales of about $7.1 billion. Analysts expect the company to report earnings of $1.89 per share on revenues of $7.16 billion for fiscal 2013.
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