Tuesday, January 29, 2013 8:20:55 AM
8:06 AM ET 1/29/13 | Briefing.com
Reports Q4 (Dec) earnings of $0.28 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.26; revenues were unchanged from the year-ago period at $260.3 mln. Co issues downside guidance for Q1, sees Q1 revs down 5-10%, which calculates to ~$234.3-247.3 mln vs. $277.28 mln Capital IQ Consensus Estimate.
Co believs that net sales will decline by ~5-10% compared with the first quarter of 2012, based on IHS's January 2013 forecast for light vehicle production levels, as well as the Co's 12-week customer order release schedule.
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