Delphi Loses $533 Million In First Quarter Of 2007

The Oracle, she has spoken — and the words coming out of her mouth are most assuredly not good for the General's big auto supplier. Delphi said it took in $6.7 billion in revenue and lost $533 million during the first three months of this year. That's substantially worse than the $7.0 billion in revenue and $363 million in red ink they dripped during the first quarter of 2006. Although Delphi claims $73 million of that loss was "attributable to employee termination costs," there's still a question of why they're hemorrhaging almost $100 million more year-on-year. We're sure glad all the great execs at Delphi were paid that $38 million in bonuses though, aren't we?

Delphi Corp. loses $533 million in first quarter [Detroit News]

Related:
Breaking! Bankruptcy Judge Rewards Delphi Execs For Being Bankrupt [internal]