dana holding corp (DAN) Key Developments
Dana Holding Corporation Opens Dana Spicer Thailand Gear Plant
Sep 15 15
Dana Holding Corporation announced the opening of the Dana Spicer Thailand Gear Plant, established to support the light-vehicle market in Thailand and the Asia-Pacific region. The gear manufacturing facility in Rayong has created 100 new jobs and provides customers with access to Dana's global manufacturing resources and technical expertise at a local level, supporting increased customer demand for Spicer® gears in the region. The 6,450-square-meter (70,000-square-foot) facility represents Dana's third facility in Rayong and increases the total size of the company's on its Rayong campus to nearly 22,000 square meters (237,000 square feet). The facility optimizes Dana's Asia-Pacific gear manufacturing supply chain as customers continue to grow in the region and request new technologies to support their expansion goals with locally produced solutions, customized for specific market needs. The Rayong facility is equipped to produce Spicer® AdvanTEK® hypoid or spiral bevel ring and pinion gear sets, applicable to any customer. Dana can manufacture primary ring and pinion drive gearing for traditional banjo and beam axles, as well as all-wheel-drive systems. The company's Spicer AdvanTEK gearing line offers best-in-class noise, vibration, and harshness (NVH) performance, as well as greater power density in a compact package increasing efficiency and durability for customers. Through its testing and development facilities throughout the Asia-Pacific region including recently opened technical centers in Wuxi, China, and Pune, India Dana has increased its manufacturing capacity and is able to align its capabilities with customer requirements.
Dana Holding Corporation Presents at Deutsche Bank Leveraged Finance Conference 2015, Sep-29-2015
Sep 8 15
Dana Holding Corporation Presents at Deutsche Bank Leveraged Finance Conference 2015, Sep-29-2015 . Venue: Phoenician, Scottsdale, Arizona, United States.
Dana Holding Corporation Presents at J.P. Morgan Auto Conference, Aug-11-2015 01:35 PM
Jul 30 15
Dana Holding Corporation Presents at J.P. Morgan Auto Conference, Aug-11-2015 01:35 PM. Venue: J.P. Morgan, 383 Madison Avenue, New York City, New York, United States. Speakers: William G. Quigley, Chief Financial Officer, Executive Vice President and Member of Strategy Board.
Dana Holding Corporation Declares Quarterly Dividend on Common Stock, Payable on September 11, 2015
Jul 29 15
Dana Holding Corporation announced that its board of directors has declared a dividend on its common stock. The board declared a quarterly dividend of $0.06 per share, payable on September 11, 2015, to holders of the company common stock as of August 21, 2015.
Dana Holding Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Year 2015
Jul 23 15
Dana Holding Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company’s net sales were $1,609 million compared with $1,710 million a year ago. Income from continuing operations before income taxes was $97 million against $119 million a year ago. Income from continuing operations was $63 million or $0.36 per diluted share against $92 million or $0.50 per diluted share reported last year. Net income available to common stockholders was $59 million or $0.36 per diluted share against $84 million or $0.49 per diluted share a year ago. Net cash provided by operating activities was $148 million against $192 million a year ago. Purchases of property, plant and equipment was $60 million against $59 million reported last year. Adjusted EBITDA was $180 million against $205 million reported last year. Adjusted net income was $79 million or $0.48 per diluted share against $101 million or $0.58 per diluted share reported last year. Foreign currency translation and the divestiture of operations in Venezuela lowered sales.
For the six months, the company’s net sales were $3,217 million compared with $3,398 million a year ago. Income from continuing operations before income taxes was $201 million against $190 million a year ago. Income from continuing operations was $137 million or $0.74 per diluted share against $130 million or $0.70 per diluted share reported last year. Net income available to common stockholders was $122 million or $0.74 per diluted share against $115 million or $0.68 per diluted share a year ago. Net cash provided by operating activities was $128 million against $223 million a year ago. Purchases of property, plant and equipment was $122 million against $126 million reported last year. Adjusted EBITDA was $356 million against $370 million reported last year. Adjusted net income was $162 million or $0.98 per diluted share against $158 million or $0.90 per diluted share reported last year.
Due to the demand environment in South America, the company is lowering full-year 2015 sales and earnings targets. The company is maintaining its full-year margin expectations due to continued strong performance in most business segments and improving performance in its North American Commercial Vehicle Driveline segment, which will benefit from the completion the past quarter of its supply-chain initiatives: Sales of $6.2 to $6.3 billion; Adjusted EBITDA of $720 to $730 million; Adjusted EBITDA as a percent of sales of approximately 11.7%; Diluted adjusted EPS will be approximately $2.00 to $2.10 (excluding the impact of share repurchases after June. 30, 2015); Capital spending will be $290 to $300 million; and free cash flow will be $190 to $220 million.