Newswire

Delphi profits decline on one-time charges

DETROIT, Jan 20 (Reuters) - Automotive parts supplier Delphi Corp. on Tuesday posted weaker earnings as cost cuts from its ongoing restructuring were offset by one-time charges.

Delphi said its net earnings fell to $82 million, or 15 cents per share, in the fourth quarter from $119 million, or 21 cents per share, a year earlier.

Excluding restructuring charges, Delphi said it earned $128 million, or 23 cents a share. The company, based in Troy, Michigan, said in December it expected fourth-quarter earnings in the range of $110 million to $130 million, excluding one-time charges.