Last $3.03 USD
Change Today +0.03 / 1.00%
Volume 4.7K
As of 8:10 PM 03/3/15 All times are local (Market data is delayed by at least 15 minutes).

tecumseh products co (TECU) Snapshot

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05/2/14 - $7.77
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12/19/14 - $2.39
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tecumseh products co (TECU) Details

Tecumseh Products Company manufactures and sells hermetically sealed compressors. The company offers air conditioning and refrigeration compressors, as well as condensing units, heat pumps, and refrigeration systems. Its products are used in commercial refrigeration applications, including walk-in coolers and freezers, ice makers, dehumidifiers, water coolers, food service equipment and refrigerated display cases, and vending machines; household refrigerators and freezers; and residential and specialty air conditioning, and heat pumps comprising window air conditioners, packaged terminal air conditioners, and recreational vehicle and mobile air conditioners. The company also produces variable speed compressors for a range of mobile cooling applications that utilize battery and solar power, such as military, medical, telecommunications, aircraft, transportation, and automotive applications; and sub-assemblies, including indoor and outdoor condensing units, and multi-cell units. It market compressor and condensing unit products under the Tecumseh, Masterflux, Silensys, Celseon, and Vector brands. The company sells its products primarily through its sales staff, as well as independent sales representatives to original equipment manufacturers and authorized wholesale distributors in 103 countries. Tecumseh Products Company was founded in 1930 and is headquartered in Ann Arbor, Michigan.

5,800 Employees
Last Reported Date: 03/5/14
Founded in 1930

tecumseh products co (TECU) Top Compensated Officers

Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $350.0K
Compensation as of Fiscal Year 2013.

tecumseh products co (TECU) Key Developments

Tecumseh Products Company Announces Executive Appointments

Tecumseh Products Company named Jose Celso Lunardeli Furchi as vice president of sales for Latin America and Homero Cremm Busnelo as marketing director for Latin America. The new team is charged with introducing the latest generation of hermetic compressors and condensing units and leading Brazil and Latin America based customers through the pending refrigerant and energy efficiency changes. Mr. Furchi will be responsible for all sales within the region including the Refrigerator/Freezer, Air Conditioning and Commercial Refrigeration market segments. Mr. Busnelo will be responsible for all marketing activities needed to drive growth and support Tecumseh Latin America's business initiatives and in alignment with the company's global strategic plan.

Tecumseh Products Company Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Tecumseh Products Company announced earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, operating loss of $1.3 million and a net loss of $3.8 million, or a net loss per share of $0.21, on net sales of $188.3 compared with an operating loss of $3.4 million and a net loss of $5.7 million, or $0.30 per share, on net sales of $194.4 million for the third quarter of 2013. Net sales decreased by 3.5% compared to the third quarter of 2013, primarily due to lower net volume and unfavorable change in sales mix, partially offset by price increases. Loss from continuing operations for the quarter ended September 30, 2014 was $3.5 million, or a loss from continuing operations per share of $0.20, as compared to a loss from continuing operations of $5.4 million, or $0.29 per share for the same period of 2013. The change was primarily related to lower impairment, restructuring charges, and other items, as well as lower S&A expenses, partially offset by lower sales and lower other income for the third quarter of 2014, as compared to the same period of 2013. EBITDA from continuing operations was $5.1 million compared with $5.2 million for the same period last year. EBITDAR from continuing operations was $7.2 million compared with $12.6 million for the same period last year. For the nine months cash used in operating activities was $19.8 million for the nine months ended September 30, 2014, as compared to $9.7 million in the same period in 2013.

Tecumseh Products Company Appoints Mitchell I. Quain as Director and Member of Governance and Nominating Committee

On October 30, 2014, Tecumseh Products Company Board increased the current size of its Board of Directors from six to seven members and appointed Mitchell I. Quain as a director to fill the newly-created vacancy, effective immediately. Mr. Quain will serve until the 2015 annual meeting of shareholders and until his successor is duly elected and qualified, or until his resignation or removal. Mr. Quain has also been appointed as a member of the Governance and Nominating Committee. Mitchell I. Quain has served as a Senior Advisor of The Carlyle Group L.P., a private investment firm, since 2012.


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