Delphi Corp. reports first-quarter 2004 earnings fell to $54 million, down from $127 million year-ago. It blames the decline on production cuts at former parent and largest customer, General Motors Corp., and restructuring charges relating to plans to eliminate 8,500 workers by year’s end. Without including restructuring charges, Delphi earned $123 million for the quarter. Sales grew to $7.41 billion from $7.18 billion year-ago. Non-GM customers accounted for $3.2 billion of the ...
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