Dana posts $30 million January loss from continuing operations

By Caroline Salls

Pittsburgh, March 28 - Dana Corp. reported a $30 million January loss from continuing operations on $669 million in net sales, much improved from a $172 million loss from operations for December on $549 million in net sales, according to an 8-K report filed with the Securities and Exchange Commission.

The January net loss was $29 million, down from a $188 million December net loss.

Cash and cash equivalents on Jan. 31 were $907 million, compared with $705 million on Dec. 31.

According to the filing, the December figures included $15 million in contractual interest expense for December and $143 million for the period of March 3, 2006 to Dec. 31, 2006, while January's numbers only included the $15 million contractual interest expense for the month.

Dana, a Toledo, Ohio-based supplier of components, modules and systems to vehicle manufacturers and related aftermarkets, filed for bankruptcy on March 3, 2006 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 06-10354.

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