WABCO Confirms 2011 Guidance and Sets Conference Call for September 8 to Address Current Business Conditions
(firmenpresse) - BRUSSELS, BELGIUM -- (Marketwire) -- 09/02/11 -- WABCO Holdings Inc. (NYSE: WBC) (), a global technology leader and tier-one supplier to the commercial vehicle industry, today confirmed its guidance for full year 2011 as last upgraded on July 28, 2011 and will hold a conference call at 9:00 a.m. Eastern Time on Thursday, September 8. Jacques Esculier, Chairman and Chief Executive Officer, and Ulrich Michel, Chief Financial Officer, will address questions about the company's current business and market conditions in the commercial vehicle industry.
WABCO reiterates that it expects full year 2011 revenue to grow between 22 and 25 percent in local currencies and operating margin to range from 13.2 to 13.8 percent on a performance basis or 12.8 to 13.4 percent on a U.S. GAAP basis.
As previously disclosed, WABCO's diluted earnings per share for full year 2011 are expected to range from $4.55 to $4.80 on a performance basis or $5.01 to $5.26 on a U.S. GAAP basis.
"Our global orders, particularly in Europe and North America, remain strong while the Chinese market already shows an upward trend," said Esculier. "In addition, the aftermarket and the trailer businesses, which we consider to be leading indicators for the truck and bus market, continue at high levels of activity."
"Currently, we see no sign of a slowdown in our markets globally and we feel confident about our previously communicated guidance for 2011," said Esculier.
The call on September 8 will be webcast at and it is also accessible by telephone in listen only mode. Dial-in number is +1 408 940 3818 and U.S. toll-free dial-in number is 877 844 0834.
A replay of the call will be available from 12:00 Noon Eastern Time on September 8 until midnight September 22, 2011. Replay dial-in number is +1 404 537 3406 and U.S. toll-free dial-in number is 855 859 2056. Pass code is 96931224.
About WABCO
WABCO (NYSE: WBC) is a leading supplier of safety and control systems for commercial vehicles. For over 140 years, WABCO has pioneered breakthrough electronic, mechanical and mechatronic technologies for braking, stability and transmission automation systems supplied to the world's leading commercial truck, trailer and bus manufacturers. With sales of $2.2 billion in 2010, WABCO is headquartered in Brussels, Belgium. For more information, visit
Forward-Looking Statements
This document contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995 that are based on management's good faith expectations and beliefs concerning future developments. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "strategies," "prospects," "intends," "projects," "estimates," "plans," "may increase," "may fluctuate," and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward looking in nature and not historical facts. Actual results may differ materially from these expectations as a result of many factors. These factors include, but are not limited to, the actual level of commercial vehicle production in our end markets, adverse developments in the business of our key customers, pricing changes to our supplies or products, and the other risks and uncertainties described in the "Risk Factors" section and the "Information Concerning Forward Looking Statements" section of WABCO's Form 10-K, as well as in the "Management's Discussion and Analysis of Financial Condition and Results of Operations - Information Concerning Forward Looking Statements" section of WABCO's Form 10-Q Quarterly Reports. WABCO does not undertake any obligation to update such forward-looking statements. All market and industry data are based on company estimates.
Non-GAAP Financial Measures
To facilitate the understanding of WABCO's 2011 guidance, a table follows this news release. Sales excluding the effects of foreign exchange, incremental gross and operating margin and EBIT are non-GAAP financial measures. Additionally, operating income, EBIT, net income and net income per diluted share on a "performance basis" are non-GAAP financial measures that exclude separation and streamlining items, the EC fine indemnification, and discrete and other one-time tax items, as applicable. Free cash flow presents our net cash provided by operating activities less net cash used for purchases of property, plant, equipment, and computer software. These measures should be considered in addition to, not as a substitute for, GAAP measures. Management believes that presenting these non-GAAP measures is useful to shareholders because it enhances their understanding of how management assesses the operating performance of the company's business. Certain non-GAAP measures may be used, in part, to determine incentive compensation for current employees.
Reconciliation of GAAP to Non-GAAP Financial Measures for Full Year 2011 Guidance
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Datum: 02.09.2011 - 05:00 Uhr
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