NORTHVILLE , MI -- Hayes Lemmerz International has announced estimated results for its fiscal year 2007 first quarter and issued updated guidance for the full fiscal year of 2007. The company said these estimated results are unaudited, have not been reviewed by the company's independent auditors, and are subject to adjustment during the course of the company's preparation and review of its quarterly financial statements.
For the first quarter, the company expects to achieve sales of approximately $560 to $565 million, adjusted EBITDA of approximately $54 to $58 million, slightly negative free cash flow and capital expenditures of approximately $16 million.
The company also announced today that it is updating its earnings guidance for the full fiscal year 2007 issued on April 4. The company expects revenue of approximately $2.2 billion for the full fiscal year ending January 31, 2008 , slightly higher than previous guidance of $2.1 billion. Adjusted EBITDA is expected to be between $200 to $210 million, up from the previous guidance of $195 to $205 million. 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 $95 million, slightly higher than previous guidance of $85 to $90 million.
For more information about Hayes-Lemmerz, go to: http://www.hayes-lemmerz.com