DETROIT (Reuters) -- Delphi Automotive PLC reported a nearly four-fold increase in fourth-quarter earnings on stronger sales of vehicle electronics and engine systems in its first results since returning as a public company.
The results exceeded the high end of analyst expectations and were the first for the restructured auto supplier since it sold shares in an initial public offering in November.
Delphi, the former parts subsidiary of General Motors, posted net income of $290 million compared with $75 million, a year earlier. Revenue rose 7 percent to $3.9 billion, the company said in a statement after markets closed on Thursday.
Delphi -- based in suburban Detroit -- also offered a forecast for 2012 that was in line with Wall Street expectations.
The auto parts supplier forecast 2012 revenue between $16.2 billion and $16.5 billion and earnings per share between $3.44 and $3.69.
Delphi shares surged on the news today, closing at $27.16, up 4.7 percent.
The supplier emerged from four years of bankruptcy in 2009. In bankruptcy, the company whittled down its business to focus on auto components in areas expected to remain in higher demand, including those to help increase fuel economy and in areas like on-board navigation and electronic controls. GM remains Delphi's largest customer.