TRW Automotive Presents at Morgan Stanley Global Automotive Conference
LIVONIA, Mich., April 7 -- TRW Automotive Holdings Corp. will present this afternoon to investors and financial analysts at the Morgan Stanley Automotive Conference in New York City. Company vice president and chief financial officer, Joseph S. Cantie, will provide a general business overview and discuss other related matters, including outlook for the year.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010824/TRWLOGO )
To access a live web cast of the presentation, along with the presentation slides and other related material, please visit the investor information section of the company's web site at trwauto.com . The presentation is scheduled to begin at approximately 11:30 a.m. (EDT).
2004 Outlook
The company is reiterating its full-year guidance, which calls for expected sales in the range of $11.4 to $11.6 billion. The company also expects full-year earnings per share in the range of $1.08 to $1.23, which includes first-quarter charges of $47 million, or $0.47 per share on a fully diluted basis for expenses related to debt repayment transactions in conjunction with the company's February 2004 initial public offering and January 2004 bank debt refinancing. The debt repayment charges are U.S. based and therefore carry zero tax benefit due to a U.S. tax loss position and related valuation allowances. Further, this guidance includes pre-tax expenses of approximately $33 million for amortization of intangibles (principally customer relationships) and $30 million related to restructuring.
Additionally, the company expects EBIDTA in-line with previous guidance.
About TRW
With 2003 sales of $11.3 billion, TRW Automotive ranks among the world's top 10 automotive suppliers. Headquartered in Livonia, Michigan, USA, the Company, through its subsidiaries, employs approximately 61,000 people in 22 countries. Its products include integrated vehicle control and driver assist systems, braking systems, steering systems, suspension systems, occupant safety systems (seat belts and airbags), electronics, engine components, fastening systems and aftermarket replacement parts and services. TRW Automotive news is available on the Internet at www.trwauto.com .
Forward-Looking Statements
This release contains statements that are not statements of historical fact, but instead are forward-looking statements. All forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those contained in forward-looking statements made in this release. Such risks, uncertainties and other important factors which could cause our actual results to differ materially from those contained in our forward-looking statements are set forth in the TRW Automotive Holdings Corp. final prospectus dated as of February 2, 2004 (the "Prospectus") filed with the Securities and Exchange Commission (the "SEC") pursuant to Rule 424(b)(4) and our Report on Form 10-K for the fiscal year ended December 31, 2003 (the "10K"), and include: our substantial leverage; the highly competitive automotive parts industry and its cyclicality; pricing pressures from our customers; increasing costs for purchased components and raw materials; non- performance by, or insolvency of, our suppliers; product liability and warranty and recall claims; our dependence on our largest customers; limitations on flexibility in operating our business contained in our debt agreements; increases in interest rates; fluctuations in foreign exchange rates; the possibility that our owners' interests will conflict with ours; work stoppages or other labor issues and other risks and uncertainties set forth under "Risk Factors" in the Prospectus, in the 10-K and in our other SEC filings. We do not intend or assume any obligation to update any of these forward-looking statements.
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