DUBLIN-A global technology company Apollo Corporation (NYSE: APTV), which is committed to realizing the future of mobility, has announced financial reports for January to September and third quarter of 2019. In the third quarter of 2019, the turnover was US $ 3.6 billion, an increase of 2% compared with the same period last year. Considering exchange rate, commodity price fluctuations and asset divestiture factors, the actual increase was 6%. From January to September 2019, the turnover was US $ 10.8 billion, which was flat compared with the same period last year; considering the exchange rate, commodity price fluctuations and asset divestiture factors, the actual increase was 4%.
Key financial data for the third quarter include:
Calculated according to US GAAP, turnover was US $ 3.6 billion, up 2% from the same period last year
Considering exchange rate, commodity price fluctuations, and divestitures, the actual increase was 6%
Based on US GAAP, net income was $ 246 million and earnings per share were $ 0.96
Excluding special item expenses, actual earnings per share are $ 1.27
Calculated according to US GAAP, revenue margin is 9.0%
If not calculated in accordance with US GAAP, the actual operating income is US $ 410 million, and the profit margin is 11.5%
$ 325 million in cash generated from operations
A total of $ 100 million was returned to shareholders through share repurchases and dividends
Key financial data from January to September include:
Calculated in accordance with US General Accounting Standards, the turnover was US $ 10.8 billion, which was the same as the same period last year
Considering exchange rate, commodity price fluctuations, and divestitures, the actual increase was 4%
Based on US GAAP, net income was $ 760 million and earnings per share were $ 2.95
Excluding special item expenses, actual earnings per share are $ 3.65
Calculated according to US GAAP, revenue margin is 8.8%
If not calculated in accordance with US GAAP, the actual operating income is $ 1.16 billion and the profit margin is 10.8%
Operations generated $ 921 million in cash
A total of US $ 560 million was returned to shareholders through share repurchases and dividends
Kevin Clark, President and Chief Executive Officer of Amberforth, said: "Thanks to the company's continuous efforts to establish a sustainable business model, Ambrough's financial performance in the third quarter remained strong above the market Average growth. Although we adjusted our full-year revenue expectations due to the strike of the General Motors Union and the more severe macroeconomic environment, we remain confident in fulfilling our commitments and maintaining growth above the market average. The company is efficient The business model and lean cost structure allow us to continue to invest in the continued growth of the business. The company ’s performance from January to September proves that we can maintain good financial performance in any environment, allowing us to meet major market trends Investing in these areas and continue to strengthen our technology leadership to provide investors with long-term returns. "
Third quarter financial performance
The company reported that, in accordance with US GAAP, turnover for the third quarter of 2019 was $ 3.6 billion, an increase of 2% compared to the same period last year. However, after considering the effects of exchange rates, commodity price fluctuations and asset divestitures, the third quarter of 2019 earnings actually increased by 6%, of which the European market increased by 14%, the Asian market increased by 5%, the South American market increased by 2%, and the North American market remained flat .
According to US GAAP, net income for the third quarter of 2019 was US $ 246 million and earnings per share were US $ 0.96; net income and earnings per share for the same period last year were US $ 222 million and US $ 0.84, respectively. Excluding U.S. GAAP, actual net income and earnings per share were US $ 325 million and US $ 1.27, respectively, compared to US $ 329 million and US $ 1.24 in the same period last year.
Excluding U.S. GAAP, actual operating income in the third quarter of 2019 was $ 410 million, compared to $ 420 million in the same period last year. Real income profit margin was 11.5%, compared with 12.1% in the same period last year. Revenue fell by 60 points due to the impact of the General Motors union strike. Discounts and amortization costs totaled $ 178 million, compared to $ 163 million in the same period last year. The increase in expenses was mainly due to mergers and acquisitions and investments.
Financial performance from January to September 2019
As of September 30, 2019, the company's turnover from January to September was $ 10.8 billion, which was flat compared with the same period last year. However, after considering the effects of exchange rates, commodity price fluctuations, and divestitures, the actual increase was 4%. Among them, the European market grew by 9%, the North American market grew by 3%, the Asian market grew by 2%, and the South American market grew by 1%.
According to US GAAP, net income from January to September was US $ 760 million and earnings per share were US $ 2.95; net income and earnings per share were US $ 820 million and US $ 3.09 in the same period last year, respectively. Excluding U.S. GAAP, actual net income and earnings per share for January to September 2019 were US $ 940 million and US $ 3.65, respectively, compared to US $ 10.44 million and US $ 3.93 in the same period last year.
If it is not calculated in accordance with US GAAP, actual operating income from January to September 2019 was US $ 1.16 billion, compared with US $ 121 million in the same period last year. The actual revenue margin for January to September 2019 was 10.8%, compared to 12.2% in the same period last year. The decline in income was mainly affected by foreign exchange rates, the strike of the General Motors Union, and investment spending on advanced technology development. Discounts and amortization costs totaled $ 539 million, compared to $ 474 million in the same period last year. The increase in expenses was mainly due to mergers and acquisitions and investments.