MAUMEE, Ohio -- Dana Holding Corp. has announced its estimated financial results for 2011 and its outlook for 2012.
 
Highlights of the company's estimated 2011 performance include:
 
·      Sales of approximately $7.6 billion, a nearly 25-percent increase over 2010
·      Adjusted EBITDA of approximately $765 million
·      Diluted adjusted earnings per share (EPS) of approximately $1.60, which was driven by stronger adjusted net income and will double EPS performance from 2010
·      Capital spending of approximately $190 million
·      Free cash flow of approximately $175 million
 
"We believe the significant improvement in sales and profit performance in 2011 demonstrates the momentum and potential of Dana," said company President and CEO Roger Wood. "The sales reflect rebounding markets as well as a demonstration of our progress in delivering new and innovative product technologies to customers around the world. The Dana brand continues to garner more attention in emerging markets as well, and is increasingly backed by in-region engineering resources."
 
For 2012, Dana has established the following financial targets:
 
·      Sales growth of at least 5 percent
·      Adjusted EBITDA of $845 million to $865 million
·      Adjusted EBITDA as a percent of sales of 10.5 percent to 11 percent
·      Diluted adjusted EPS of $1.95 to $2.05
·      Capital spending of $225 million to $250 million
·      Free cash flow of more than $200 million, excluding a special one-time $150 million pension contribution
 
"These targets are aggressive but achievable, and backed by aggressive but disciplined operating plans. Each of our three business units – On-Highway Driveline Technologies, Off-Highway Driveline Technologies and Power Technologies – has the plan to continue attracting new business while improving margins," Wood said.