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Auto supplier Visteon ups 04 outlook 38% over est.

Visteon Corp. raised the upper end of its outlook range for earnings growth this year as sales from non-Ford Motor Co. improved in the first quarter. Visteon said it expects full year revenue between $18.6 billion and $18.8 billion in 2004, and said it sees non-Ford revenue exceeding $5 billion for the full year. Visteon expects 70 cents to $1.10 per share in net income, above its previous guidance of 50 cents to $1.00 per share. Analysts had been projecting earnings of 51 cents a share in 2004, according to Thomson/First Call. First quarter revenue rose $268 million to $5 billion, it said reflecting growth in non-Ford revenue and the favorable impact of exchange rates.

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