Visteon Announces Q4 And 2005 Results

In this press release the Company has provided information regarding certain non-GAAP financial measures including "free cash flow" and "EBIT-R." Such non-GAAP financial measures are reconciled to their closest US GAAP financial measure in the schedules below.

EBIT-R: EBIT-R represents net income (loss) before net interest expense and provision for income taxes and excludes impairment and net unreimbursed restructuring charges as well as the gain on the ACH transactions. Management believes EBIT-R is useful to investors because it provides meaningful supplemental information regarding the Company's operating results because the excluded items may vary significantly in timing or amounts and/or may obscure trends useful in evaluating and comparing the Company's continuing operating activities.


                        Three Months Ended     Year Ended           2006
                            December 31,       December 31,       Estimate

                           2005      2004     2005      2004

    Net Income (Loss)    $1,338     $(138)   $(270)  $(1,536)  $(250) - $(220)

      Interest
       expense, net          34        24      132        96         160
      Provision (benefit)
       for income taxes      23       (21)      64       962         105
      Impairment of
       long-lived assets    335         -    1,511       314          30
      Net unreimbursed
       restructuring
       expense                -        41        7        82           -
      Gain on ACH
       transactions      (1,832)        -   (1,832)        -           -

    EBIT-R                $(102)     $(94)   $(388)     $(82)      $45 - $75

EBIT-R is not a recognized term under GAAP and does not purport to be an alternative to net income (loss) as an indicator of operating performance or to cash flows from operating activities as a measure of liquidity. Because not all companies use identical calculations, this presentation of EBIT-R may not be comparable to other similarly titled measures of other companies. Additionally, EBIT-R is not intended to be a measure of free cash flow for management's discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements.

Free Cash Flow: Free cash flow represents cash flow from operating activities less capital expenditures. Management believes that free cash flow is useful in analyzing the Company's ability to service and repay its debt and it uses the measure for planning and forecasting in future periods, as well as in management compensation decisions.


                             Three Months Ended     Year Ended          2006
                                 December 31,       December 31,      Estimate

                                2005      2004     2005     2004

    Cash provided from
     operating activities        $42      $195     $417     $418        $500

      Capital expenditures      (185)     (258)    (585)    (827)       (450)

    Free cash flow             $(143)     $(63)   $(168)   $(409)        $50

Free cash flow is not a recognized term under GAAP and does not reflect cash used to service debt and does not reflect funds available for investment or other discretionary uses.

CONTACT: Media Inquiries: Jim Fisher, +1-734-710-5557, mobile:
+1-734-417-6184, Email Contact, or Investor Inquiries: Derek Fiebig,
+1-734-710-5800, Email Contact , both of Visteon Corporation

Web site: http://www.visteon.com/



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