Magna builds the Ocean SUV for Fisker, which failed to make a required interest payment in March and warned it could seek bankruptcy protection.
Magna, which keeps its books in U.S. dollars, says it earned US$9 million or three cents US per diluted share for the quarter ended March 31.Sales for the quarter totalled US$10.97 billion, up from US$10.67 billion in the same quarter last year. On an adjusted basis, Magna says it earned US$1.08 per diluted share in its latest quarter, down from an adjusted profit of US$1.15 per diluted share a year earlier.The Canadian Press
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