Dana Group's third-quarter net profit fell by 49.1% year-on-year

In the third quarter of 2012, Dana Group’s net sales were US$1.715 billion, a year-on-year decrease of 11.6%, and net sales for the same period of 2011 were US$1.94 billion; net sales in the first three quarters totaled US$5.6 billion, a year-on-year decrease of 5.7%. In the same period of 2011, net sales were 5.94 billion U.S. dollars.

Dana’s adjusted EBITDA before the third quarter of 2012 was 190 million U.S. dollars, accounting for 11% of sales; the adjusted EBITDA for the first three quarters was 627 million U.S. dollars, accounting for 11.1% of sales.

Dana’s net profit for the third quarter of 2012 was US$56 million, down 49.1% year-on-year, and net profit for the same period in 2011 was US$110 million; Dana’s net profit totaled US$212 million in the first three quarters, up 43.2% year-on-year, 2011 The year-on-year net profit was 148 million U.S. dollars.

Donne diluted earnings per share in the third quarter was $0.37, down 17.8% year-on-year, and diluted earnings per share for the same period in 2011 were $0.45.

As the market demand in North America and Europe is expected to further shrink, Dana has adjusted its financial data for the entire year of 2012. The adjustment results are as follows:

Dana expects its 2012 annual sales to reach US$7.27 billion to US$7.3 billion, the adjusted EBIT will be US$7.88 billion, and the diluted adjusted earnings per share will reach US$1.75-1.82 per share. Free cash flow will To reach US$2.4-2.6 billion, capital expenditure will reach US$1.6-1.7 billion.

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