Revenue during the quarter grew 11.19 percent to $4,313 million from $3,879 million in the previous year period. Gross margin for the quarter expanded 641 basis points over the previous year period to 24.92 percent. Total expenses were 84.81 percent of quarterly revenues, down from 91.36 percent for the same period last year. This has led to an improvement of 655 basis points in operating margin to 15.19 percent.

Operating income for the quarter was $655 million, compared with $335 million in the previous year period.

However, the adjusted operating income for the quarter stood at $606 million compared to $503 million in the prior year period. At the same time, adjusted operating margin improved 108 basis points in the quarter to 14.05 percent from 12.97 percent in the last year period.

"We finished 2016 strong, delivering another year of robust sales, margin expansion, and earnings growth with solid cash flow," said Kevin Clark, Delphi president and chief executive officer. "Our strong organic growth and bookings demonstrate that our portfolio of market-relevant advanced technologies is meeting changing industry needs. Delphi remains focused on delivering profitable growth, executing flawlessly for customers, and delivering on our commitments to shareholders again in 2017."

For the first-quarter 2017, Delphi Automotive PLC projects revenue to be in the range of $4,050 million to $4,150 million. The company projects adjusted operating income to grow at 12.30 percent. The company projects adjusted operating income to be in the range of $490 million to $520 million. On an adjusted basis, the company forecasts diluted earnings per share to be in the range of $1.40 to $1.50. 

For fiscal year 2017, Delphi Automotive PLC projects revenue to be in the range of $16,500 million to $16,900 million. The company projects adjusted operating income to be in the range of $2,185 million to $2,285 million. The company forecasts diluted earnings per share to be in the range of $6.40 to $6.70 on adjusted basis.

The company has spent $578 million cash to meet investing activities during the year as against cash outgo of $1,699 million in the last year. It has incurred net capital expenditure of $800 million on net basis during the year, up 15.27 percent or $106 million from year ago.

The company has spent $1,081 million cash to carry out financing activities during the year as against cash outgo of $284 million in the last year period.

Cash and cash equivalents stood at $838 million as on Dec. 31, 2016, up 56.64 percent or $303 million from $535 million on Dec. 31, 2015.

Working capital increases
Delphi Automotive PLC has recorded an increase in the working capital over the last year. It stood at $1,271 million as at Dec. 31, 2016, up 6.45 percent or $77 million from $1,194 million on Dec. 31, 2015. Current ratio was at 1.31 as on Dec. 31, 2016, up from 1.30 on Dec. 31, 2015.

Cash conversion cycle (CCC) was almost stable at 12 days for the quarter, when compared with the last year period. Days sales outstanding went down to 31 days for the quarter compared with 33 days for the same period last year.

Days inventory outstanding was almost stable at 18 days for the quarter, when compared with the last year period. At the same time, days payable outstanding was almost stable at 36 days for the quarter, when compared with the previous year period.