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SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

 

FORM 8-K

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

 
Date of Report   September 18, 2001
(Date of earliest event reported)
 
 
VISTEON CORPORATION
(Exact name of registrant as specified in its charter)
         
Delaware
  
1-15827
 
38-3519512
 
 
(State or other jurisdiction of incorporation)
  
(Commission File Number)
 
(IRS Employer Identification No.)
 
5500 Auto Club Drive, Dearborn, Michigan
  
 
  
48126
 
 
  
(Address of principal executive offices)
  
 
  
(Zip Code)

Registrant’s telephone number, including area code (800)-VISTEON

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EXHIBIT INDEX
Press Release Dated September 18, 2001

Item 5. Other Events.

     On September 18, 2001, we issued a press release concerning our third quarter 2001 earnings. The press release, filed as Exhibit 99.1 to this Current Report on Form 8-K, is incorporated herein by this reference.

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

     
Exhibit No.
  
Description
 
99.1
  
Press release dated September 18, 2001

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SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
 
  
 
  
VISTEON CORPORATION
 
Date:
  
September 18, 2001
 
By: /s/ Stacy L. Fox
  Stacy L. Fox
Senior Vice President,
General Counsel and Secretary

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EXHIBIT INDEX

             
Exhibit No. Description Page
Exhibit 99.1
   Press Release dated
September 18, 2001

- 4 -

ex99-1

News Release

Exhibit 99.1

         
Contact(s):
  
Media Inquiries:
 
Visteon Corporation
 
  
Liane Smyth
 
Public Affairs
 
  
313-755-2916
 
5500 Auto Club Drive
 
  
lsmyth1@visteon.com
 
Dearborn, MI 48126
 
  
 
  
Facsimile: 313-755-7983
 
  
Investor Inquiries:
  
 
  
Derek Fiebig
  
 
  
313-755-3699
  
 
  
dfiebig@visteon.com
   VISTEON LOGO

FOR IMMEDIATE RELEASE

VISTEON CORPORATION REVISES THIRD QUARTER EARNINGS GUIDANCE

DEARBORN, Mich., Sept. 18, 2001 — Visteon Corporation (NYSE: VC) today revised its Third Quarter earnings estimates in light of Friday’s announcement that Ford would take 110,000 to 120,000 units out of the Third Quarter North American production schedule with only two weeks remaining. Visteon now expects to post an after-tax loss of $60-70 million, excluding restructuring charges.

“Although we’ve been able to hold our forecast until now, there is no way we can contain this level of reduction this late in the quarter,” said Michael Johnston, President and Chief Operating Officer. “In the Second Quarter, when industry production schedules were sharply reduced, we were able to take actions to reduce controllable costs and stay on target. In that case, however, the production cuts came much earlier in the quarter. We are taking every action to minimize the impact of this latest cut, but cannot accommodate this level of disruption in this timeframe.”

Visteon noted that despite the difficulties in border crossings and air freight, it has been able to meet all of its production commitments to Ford.

Visteon is not providing guidance for full year results at this time, citing the high degree of economic and auto sales uncertainty.

Visteon Corporation is a leading full-service supplier that delivers consumer-driven technology solutions to automotive manufacturers worldwide and through multiple

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channels within the global automotive aftermarket. Visteon has about 80,000 employees and a global delivery system of more than 160 technical, manufacturing, sales, and service facilities located in 25 countries.

This press release contains forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “estimated” and “potentially” signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in our Current Report on Form 8-K filed with the Securities and Exchange Commission on February 27, 2001. Should any risks and uncertainties develop into actual events, these developments could have material adverse effects on Visteon’s business, financial condition and results of operations.

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Visteon news releases, photographs and product specification details
are available at www.visteon.com

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