BUSINESS MEMO: DANA SALES, PROFITS

Dana Corp. has announced record sales and profits for the third quarter.

The most recent financial report shows third-quarter sales of $3 billion, up 3.4 percent from the third quarter of 1997. Net income increased to $98 million, and earnings per share increased to 59 cents, including non-recurring charges of $38 million (23 cents a share) associated with the acquisition of the former Echlin Inc.

Excluding the acquisition costs, net income for the quarter jumped 30 percent, to $136 million, and earning per share rose 28 percent, to 82 cents.

The local Dana facility is Spicer Axle Division in Cape Girardeau.

Dana's nine-month consolidated sales totaled $9.4 billion, up 5.4 percent from the same period a year ago. Net income for the first three quarters of 1998 was $399 million, and earnings per share were $2.39.

Dana is a leading global supplier of original equipment components to vehicular, industrial and mobile off-highway markets and their related after-markets.