Aurora, ONTARIO (Reuters) -- Magna International reported a rise in fourth quarter sales, excluding the impact of a strong U.S. dollar, helped by healthy vehicle demand and output in Europe and North America.
Net income from continuing operations fell 6.4 percent to $483 million, or $1.19 per share.
Revenue totaled $8.57 billion, down about 2.5 percent, or about $222 million. Excluding the impact of the U.S. dollar, sales increased 6 percent, the Canadian auto parts maker said today.
Magna, whose customers include General Motors, Volkswagen Group, BMW and Ford Motor Co., is a major auto parts supplier in Europe and North America, and also engineers and assembles vehicles for automakers.
Aurora, Ontario-based Magna said vehicle production rose about 7 percent in Europe and about 4 percent in North America in the fourth quarter ended Dec. 31.
The strong U.S. dollar reduced sales by about $770 million in the quarter, said Magna, which generates about half of all revenue from outside North America.