Last $21.85 USD
Change Today -0.17 / -0.77%
Volume 1.8M
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As of 8:04 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

dana holding corp (DAN) Key Developments

Dana Holding Announces Quarterly Dividend, Payable on April 3, 2015

Dana Holding announced that the company will pay a quarterly dividend on its common stock of $0.05 per share on April 3, 2015 to shareholders of record on March 13, 2015.

Dana Holding Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Solidifies Earnings Guidance for the Year 2015

Dana Holding Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. Sales for the fourth-quarter of 2014 totaled $1.58 billion, compared with $1.62 billion for the same period a year ago. Loss from continuing operations before interest expense and income taxes was $22 million against income from continuing operations before interest expense and income taxes of $95 million reported last year. Loss from continuing operations before income taxes was $51 million against income from continuing operations before income taxes of $65 million reported last year. Income from continuing operations was $119 million or $0.71 per diluted share against $44 million or $0.24 per diluted share reported last year. Net income attributable to company for the fourth quarter of 2014 was $109 million, compared with $42 million in 2013. Net income available to common stockholders was $109 million or $0.64 per diluted share against $38 million or $0.23 per diluted share reported last year. Net cash provided by operating activities was $208 million against $284 million reported last year. Purchases of property, plant and equipment was $90 million against $86 million reported last year. Adjusted EBITDA was $178 million against $174 million reported last year. Adjusted net income was $90 million or $0.53 per diluted share against $89 million or $0.49 per diluted share reported last year. The company certainly posted strong free cash flow in the quarter of $118 million. For the year, the company reported income from continuing operations before interest expense and income taxes was $378 million against $467 million reported last year. Income from continuing operations before income taxes was $260 million against $368 million reported last year. Income from continuing operations was $343 million or $1.93 per diluted share against $261 million or $0.08 per diluted share reported last year. Net income attributable to parent company was $319 million compared with $244 million reported last year. Net income available to common stockholders was $312 million or $1.84 per diluted share against net loss available to common stockholders of $13 million or $0.09 per diluted share reported last year. Net cash provided by operating activities was $510 million against $577 million reported last year. Purchases of property, plant and equipment was $234 million against $209 million reported last year. Adjusted net income was $346 million or $1.99 per diluted share against $355 million or $1.77 per diluted share reported last year. At the end of the year, outstanding debt was about $1.678 billion, resulting in a net debt position of $388 million. Sales totaled about $6.6 billion, $152 million lower than last year. Free cash flow was very strong at $276 million. Adjusted EBITDA for the year totaled $746 million, slightly favorable to last year. For the year 2015, the company solidified its guidance. For the year, the company now expects sales in the range of $6.4 to 6.5 billion, adjusted EBITDA in the range of $740 to $760 million. Adjusted EBITDA as a % of sales is expected approximately 11.6%. The company also expects diluted adjusted EPS of approximately $2.05 to $2.15 (excluding the impact of share repurchases after Dec. 31, 2014) and capital spending in the range of $300 to $320 million; and free cash flow in the range of $190 to $220 million. The company continues to expect organic growth of a range of 4% to 6% adjusting for Venezuelan currency, comprised of pricing and recovery actions of $25 million to $50 million.

Dana Holding Launches New Spicer XFE 75W-90 Axle Lubricant

Dana Holding Corporation has launched the new Spicer XFE 75W-90 axle lubricant. The Spicer XFE 75W-90 axle lubricant is an all-new synthetic gear oil to further improve fuel economy in high-efficiency drivetrain solutions while qualifying for an initial 500,000-mile drive axle lubrication change interval. Spicer XFE 75W-90 axle lubricant is specifically formulated to improve drive axle efficiency in a variety of on-highway applications. Dana engineers have validated numerous performance benefits of Spicer XFE 75W-90 axle lubricant, including reduced friction and spin loss, a lower stabilization temperature, and more stable viscosity during operation. Vehicle tests indicate that the use of this lubricant could enable additional fuel savings to result in a payback of typical purchase cost within six months when compared with currently approved synthetic axle lubricants. Spicer XFE 75W-90 axle lubricant passed meticulous testing specified by SAE International and Dana's Materials Engineering Department. It met requirements to SAE J2360 and was qualified to meet Dana SHAES256 Rev C specifications. Spicer XFE 75W-90 axle lubricant can improve vehicle efficiency and reduce fleet operating costs when used in combination with the latest efficient, robust, and lightweight drive axles from Dana, such as the Spicer AdvanTEK 40 and Spicer Pro-40 tandem axles for 6x4 configurations as well as the Spicer EconoTrek 6x2 tandem axle.

Dana Holding Corporation to Open Mechatronics Technology Center in Rovereto, Italy

Dana Holding Corporation announced that it will launch the Dana Mechatronics Technology Center in Rovereto, Italy, later this year to support advanced engineering programs for the off-highway market. This technology center will be located in the noted Polo della Meccatronica di Rovereto (Italy), a cluster of companies, university departments, research centers, and other industrial accelerators devoted to mechatronics – a rapidly growing field of engineering that combines information technology, electronics, mechanics, hydraulics, and pneumatics. The company will use the center to identify and leverage mechatronics system development opportunities with off-highway equipment manufacturers, facilitate co-development and networking opportunities with high-tech collaborators, and attract engineering talent. Initially, the center will encompass 11,800 square feet (1,100 square meters) of space for systems and components design and validation; technology evaluations and comparisons; proof-of-performance vehicle prototype development; feasibility and performance evaluations; and other advanced engineering functions. The center, which will become operational during 2015, will be staffed by a team of engineers, researchers, technicians, and support personnel. It will take advantage of substantial financial incentives available from local authorities for research and development expenses. The Rovereto location is also in close proximity to existing Dana technology centers for off-highway axles and driveshafts.

Dana Holding Readies Spicer® PowerBoost® Hydraulic-Hybrid Program for Manufacturer Field Testing

Dana Holding Corporation announced that the company is now offering its Spicer® PowerBoost® hydraulic-hybrid system for field testing by off-highway original-equipment manufacturers (OEMs). Dana engineers have conducted extensive field tests of the Spicer PowerBoost system integrated with a dual-motor hydrostatic transmission in a series configuration. These functional evaluations include more than 1,000 hours on a 16-tonne (17.5-ton) front-end loader and more than 500 hours on a telescopic boom handler powered by an 83 kW (111 hp) engine. These tests of typical duty cycles have verified fuel savings of over 20% for the front-end loader and over 25% on the telescopic boom handler, with an expected payback in under 18 months for both applications. Spicer PowerBoost hydraulic-hybrid technology is ideally suited for hydrostatically driven drivetrains, which is why Dana will feature it at Intermat as part of a complete drivetrain system for a compact telescopic boom handler with 2.7- to 3.6-tonne (6k to 8k) lifting capacity. This system includes a next-generation, two-speed Spicer Model 367 shift-on-fly hydrostatic transmission with new power takeoff (PTO) disconnect functionality, Spicer Model 211 planetary steer axles, and a Spicer® 10 Series® driveshaft. This configuration demonstrates how off-highway manufacturers can potentially reduce the engine size for applications that currently require an engine at or slightly above the U.S. EPA's Tier 4 or Euro 5/6 emissions threshold of 75 hp (56 kW). The Spicer PowerBoost system allows manufacturers to select a smaller engine that does not require exhaust after treatment systems that are costly, consume added space, and increase the operating temperature of the powertrain system.

 

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DAN

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Price/Earnings 11.7x
Price/Sales 0.6x
Price/Book 3.4x
Price/Cash Flow 10.1x
TEV/Sales 0.1x
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