Dana Inc. saw a decrease in its fourth-quarter net income, largely due to elevated costs that reduced profit and pressured company margins.
The axles and transmissions supplier said said Thursday that net income for the quarter dropped 15 percent to $85 million.
The supplier said sales in the fourth quarter gained 1 percent to $1.99 billion. The company said the slight increase is attributable to recent acquisitions and backlog conversions.
Last year, the supplier completed its acquisition of Canadian company Nordresa Motors Inc. in a move to grow its electrified drivetrain capabilities. Dana also completed its acquisition of drive systems business Oerlikon, the largest deal in company history, last year.
Adjusted earnings before interest, taxes, depreciation and amortization for the fourth quarter also increased 1 percent to $226 million.
Adjusted free cash flow fell more than 9 percent to $218 million, the company said, largely due to higher capital expenditures to support new…