Visteon Announces Third Quarter 2007 Results

Use of Non-GAAP Financial Information

This press release contains information about Visteon's financial results which is not presented in accordance with accounting principles generally accepted in the United States ("GAAP"). Such non-GAAP financial measures are reconciled to their closest GAAP financial measures at the end of this press release. The provision of these comparable GAAP financial measures for full- year 2007 is not intended to indicate that Visteon is explicitly or implicitly providing projections on those GAAP financial measures, and actual results for such measures are likely to vary from those presented. The reconciliations include all information reasonably available to the company at the date of this press release and the adjustments that management can reasonably predict.

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                     VISTEON CORPORATION AND SUBSIDIARIES
                    CONSOLIDATED STATEMENTS OF OPERATIONS
                 (Dollars in Millions, Except Per Share Data)
                                 (Unaudited)

                             Three-Months Ended        Nine-Months Ended
                                September 30             September 30
                              2007        2006         2007         2006
    Net sales
      Products              $2,410       $2,447       $8,001       $8,032
      Services                 136          133          407          416
                             2,546        2,580        8,408        8,448
    Cost of sales
      Products               2,313        2,397        7,635        7,423
      Services                 134          131          402          412
                             2,447        2,528        8,037        7,835
    Gross margin                99           52          371          613

    Selling, general and
     administrative expenses   131          176          445          537
    Asset impairments           14            -           65           22
    Restructuring expenses      27           14           89           35
    Reimbursement from Escrow
     Account                    27           14          109           35

    Operating (loss) income    (46)        (124)        (119)          54

    Interest expense, net       42           40          123          125
    Debt extinguishment gain     -            -            -            8
    Equity in net income of
     non-consolidated
     affiliates                 11            8           34           27

    Loss before income taxes,
     minority interests,
     discontinued operations,
     change in accounting and
     extraordinary item        (77)        (156)        (208)         (36)

    Provision for income taxes  20           10           65           57
    Minority interests in
     consolidated subsidiaries  12            5           32           22

    Net loss from continuing
     operations before change
     in accounting and
     extraordinary item       (109)        (171)        (305)        (115)

    Loss from discontinued
     operations, net of tax      -            6           24           13

    Net loss before change in
     accounting and
     extraordinary item       (109)        (177)        (329)         (128)


        Cumulative  effect  of
          change  in  accounting,
          net  of  tax                                    -                        -                        -                      (4)

        Net  loss  before
          extraordinary  item              (109)                (177)                (329)                (132)

        Extraordinary  item,  net
          of  tax                                            -                        -                        -                        8

        Net  loss                                  $(109)              $(177)              $(329)              $(124)

        Per  share  data:
        Basic  and  diluted  loss
          per  share  from
          continuing  operations
          before  change  in
          accounting  and
          extraordinary  item          $(0.84)            $(1.33)            $(2.36)            $(0.90)
        Loss  from  discontinued
          operations,  net  of  tax            -                  0.05                  0.18                  0.10
        Basic  and  diluted  loss
          per  share  before  change
          in  accounting  and
          extraordinary  item            (0.84)              (1.38)              (2.54)              (1.00)
        Cumulative  effect  of
          change  in  accounting,
          net  of  tax                                    -                        -                        -                (0.03)
        Basic  and  diluted  loss
          per  share  before
          extraordinary  item            (0.84)              (1.38)              (2.54)              (1.03)
        Extraordinary  item,  net
          of  tax                                            -                        -                        -                  0.06
        Basic  and  diluted  loss
          per  share                            $(0.84)            $(1.38)            $(2.54)            $(0.97)
        Average  shares
          outstanding  (millions)
        Basic                                        129.7                128.1                129.4                127.7
        Diluted                                    129.7                128.1                129.4                127.7



                                          VISTEON  CORPORATION  AND  SUBSIDIARIES
                                                  CONSOLIDATED  BALANCE  SHEETS
                                                        (Dollars  in  Millions)

                                                                                                      (Unaudited)
                                                                                                    September  30      December  31
                                                                                                              2007                      2006
                                ASSETS

        Cash  and  equivalents                                                            $1,422                  $1,057
        Accounts  receivable,  net                                                      1,289                    1,245
        Interests  in  accounts  receivable  transferred                  463                        482
        Inventories,  net                                                                          535                        520
        Other  current  assets                                                                  250                        261

        Total  current  assets                                                              3,959                    3,565

        Equity  in  net  assets  of  non-consolidated
          affiliates                                                                                    233                        224
        Property  and  equipment,  net                                                2,798                    3,034
        Other  non-current  assets                                                          129                        115
        Total  assets                                                                            $7,119                  $6,938


                                LIABILITIES  AND  SHAREHOLDERS'  DEFICIT

        Short-term  debt,  including  current  portion  of
          long-term  debt                                                                          $109                      $100
        Accounts  payable                                                                      1,781                    1,825
        Accrued  employee  liabilities                                                  307                        323
        Other  current  liabilities                                                        336                        320

        Total  current  liabilities                                                    2,533                    2,568

        Long-term  debt                                                                          2,604                    2,128
        Employee  benefits,  including  pensions                                641                        924
        Postretirement  benefits  other  than  pensions                    629                        747
        Deferred  income  taxes                                                                193                        170
        Other  non-current  liabilities                                                393                        318
        Minority  interests  in  consolidated  subsidiaries            288                        271

        Shareholders'  deficit
            Preferred  stock  (par  value  $1.00,  50  million
              shares  authorized,  none  outstanding)                                -                            -
            Common  stock  (par  value  $1.00,  500  million
              shares  authorized,  131  million  shares  issued,
              130  million  and  129  million  shares  outstanding,
              respectively)                                                                          131                        131
            Stock  warrants                                                                          127                        127
            Additional  paid-in  capital                                              3,405                    3,398
            Accumulated  deficit                                                          (3,973)                (3,606)
            Accumulated  other  comprehensive  income  (loss)            160                      (216)
            Other                                                                                            (12)                      (22)

        Total  shareholders'  deficit                                                  (162)                    (188)
        Total  liabilities  and  shareholders'  deficit              $7,119                  $6,938



                                          VISTEON  CORPORATION  AND  SUBSIDIARIES
                                        CONSOLIDATED  STATEMENTS  OF  CASH  FLOWS
                                                        (Dollars  in  Millions)
                                                                  (Unaudited)

                                                            Three-Months  Ended              Nine-Months  Ended
                                                                  September  30                        September  30
                                                            2007                2006                  2007                  2006
        Operating  Activities
        Net  loss                                  $(109)            $(177)              $(329)              $(124)

        Adjustments  to  reconcile
          net  loss  to  net  cash
          (used  by)  provided  from
          operating  activities:
            Depreciation  and
              amortization                        109                  107                    346                    315
            Asset  impairments                  14                      -                      77                      22
            Non-cash  postretirement
              benefits                                (12)                    -                      15                    (72)
            Extraordinary  item,  net
              of  tax                                        -                      -                        -                      (8)
            Debt  extinguishment
              gain                                            -                      -                        -                      (8)
            Equity  in  net  income
              of  non-consolidated
              affiliates,  net  of
              dividends  remitted            (14)                  (7)                      1                      (4)
            Non-cash  tax  items              (24)                (15)                  (54)                  (20)
            Other  non-cash  items          (11)                    7                      (6)                      3
        Change  in  receivables
          sold                                              (2)                  67                    (67)                    12
        Changes  in  assets  and
          liabilities:
            Accounts  receivable
              and  retained  interests    177                  (27)                  95                        (7)
            Escrow  receivable                  18                    (6)                    31                      18
            Inventories                            (17)                  30                    (39)                    11
            Accounts  payable                (149)                (30)                  (99)                (203)
            Other                                        (33)                  17                      (9)                  107

        Net  cash  (used  by)
          provided  from  operating
          activities                                (53)                (34)                  (38)                    42

        Investing  Activities
        Capital  expenditures              (88)                (82)                (232)                (265)
        Proceeds  from
          divestitures  and
          asset  sales                                69                      7                    159                      18
        Other                                              (5)                  (6)                    (6)                    (6)
        Net  cash  used  by
          investing  activities            (24)                (81)                  (79)                (253)

        Financing  Activities
        Short-term  debt,  net                34                      9                      30                  (364)
        Proceeds  from  debt,  net
          of  issuance  costs                      -                      6                    497                1,182
        Principal  payments  on
          debt                                            (40)                  (2)                  (58)                (612)
        Repurchase  of  unsecured
          debt  securities                          -                      -                        -                  (141)
        Other,  including  book
          overdrafts                                  14                      4                    (17)                    (5)
        Net  cash  provided  from
          financing  activities                8                    17                    452                      60
        Effect  of  exchange  rate
          changes  on  cash                        18                      2                      30                      26
        Net  (decrease)  increase
          in  cash  and  equivalents      (51)                (96)                  365                  (125)
        Cash  and  equivalents  at
          beginning  of  period          1,473                  836                1,057                    865
        Cash  and  equivalents  at
          end  of  period                    $1,422                $740              $1,422                  $740



                                          VISTEON  CORPORATION  AND  SUBSIDIARIES
                                RECONCILIATION  OF  NON-GAAP  FINANCIAL  MEASURES
                                                        (Dollars  in  Millions)
                                                                  (Unaudited)
 





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