DETROIT (Reuters) -- Auto parts supplier Dana Holding Corp. posted a quarterly profit, helped by lower expenses, and said its Chief Financial Officer James Yost will step down in March.
The company said it replaced Yost with former Visteon Corp. CFO William Quigley, who left that supplier in a "mutual resignation" in October.
Dana reported net income available to common shareholders of $63 million, or 33 cents per share, compared with a net loss of $21 million, or 14 cents a share a year ago.
Revenue rose 22 percent to $1.91 billion.
Operating expenses fell 16 percent in the quarter.
Dana, based in suburban Toledo, Ohio, kept the 2012 outlook it provided in January. The company expects earnings of $1.95 to $2.05 per share, and sales growth of at least 5 percent.
Meanwhile, Quigley's departure last fall from Visteon took place amid a reported battle between some members of the company's board and CEO Donald Stebbins. The board has been pushing management to sell off certain business units.
Because the resignation was designated an involuntary termination, Quigley at the time walked away with more than $9.9 million in severance and accelerated restricted stock, according to Crain's Detroit Business, an affiliate of Automotive News.