Hayes Lemmerz International has reported an operating loss of $14.9m for the fiscal year ended 31 January, compared to earnings of $22.0m a year earlier.
Go deeper with GlobalData
One-time impairment charges are excluded from the figures.
The automotive wheels and components maker reported sales of $2.28bn, up 6.6% year in year.
The company reported a net loss of $461.9m for 2005, compared to a net loss of $62.3m for fiscal 2004.
It also reported non-cash charges of approximately $185.5m for the impairment of goodwill and $195.0m for the impairment of other long-lived assets.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataHayes Lemmerz recently combined its North American wheel and international wheel business units, creating a global wheel group, and has consolidated its suspension components business unit and its automotive brake and powertrain components business unit into an automotive components group.
It will also close its Huntington, Indiana, aluminium wheel plant in 2006 and reduce employee wage and benefit costs, primarily for its US locations.
It estimates annual savings of approximately $35m as a result.
