US: Hayes Lemmersz estimates Q1 results
Wheel, brake and powertrain components maker Hayes Lemmerz International on Tuesday announced estimated results for the fiscal year 2007 first quarter and issued updated guidance for the full fiscal year of 2007.
The estimated results are subject to adjustment during the course of the company's preparation and review of its quarterly financial statements which will be published in June.
For the fiscal year first quarter 2007, the company expects to achieve sales of approximately $US560 to $565m, adjusted EBITDA of approximately $54 to $58m, slightly negative free cash flow and capital expenditures of approximately $16m.
It now expects revenue of approximately $2.2bn for the full fiscal year ending 31 January, 2008, slightly higher than previous guidance of $2.1bn. Adjusted EBITDA is expected to be between $200 to $210m, up from the previous guidance of $195 to $205m. In line with previous guidance, the Company expects positive free cash flow (excluding securitization impact).
Capital expenditures for the year are expected to be approximately $90 to $95m, slightly higher than previous guidance of $85 to $90m.