Federal Mogul ist wieder da !! - 500 Beiträge pro Seite
eröffnet am 04.04.08 12:53:12 von
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Beiträge: 40
ID: 1.140.124
ID: 1.140.124
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Gesamt: 12.800
Gesamt: 12.800
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ISIN: US3135494041 · WKN: A0M9B6
9,9800
USD
0,00 %
0,0000 USD
Letzter Kurs 24.01.17 Nasdaq
Neuigkeiten
Werte aus der Branche Finanzdienstleistungen
Wertpapier | Kurs | Perf. % |
---|---|---|
1,5100 | +37,27 | |
4,5000 | +15,38 | |
6,3000 | +14,55 | |
3,4200 | +14,00 | |
1,6503 | +10,07 |
Wertpapier | Kurs | Perf. % |
---|---|---|
45,82 | -10,02 | |
19,960 | -10,25 | |
8,4200 | -11,74 | |
1,5000 | -23,08 | |
5,2250 | -50,38 |
Nachdem die "Neue" Federal Mogul Aktie gehandelt wird und hier auch bei WO verfügbar ist, hier der neue Thread dazu. Also alles was interessant ist jetzt hier rein.
Mal sehen was hier so geht.
Mal sehen was hier so geht.
Antwort auf Beitrag Nr.: 33.808.841 von zweifler am 04.04.08 12:53:12Hallo
Mal sehen wa die Q1 zahlen bringen müssten ja bald kommem.
Was ist eigentlich mit den altaktien?
Flippy11
Mal sehen wa die Q1 zahlen bringen müssten ja bald kommem.
Was ist eigentlich mit den altaktien?
Flippy11
Hallo. seit ihr auch federal mogul mitarbeiter? wo arbeitet ihr? bin auch noch investiert mit 2300stk. aber die werden nich mehr gehandelt. habe meinen onlinebroker darauf angeschrieben und der meinte man müsste eine Lagerstellenumlegung für Auslandshandel tätigen.
Antwort auf Beitrag Nr.: 33.842.612 von r6fahrer am 09.04.08 09:26:02hallo
habe was gefunden was das listing an der nasdaq angeht
http://biz.yahoo.com/bw/080410/20080410005709.html?.v=1
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Press Release Source: Federal-Mogul Corporation
Federal-Mogul Corporation to List Class A Common Stock on NASDAQ
Thursday April 10, 10:13 am ET
SOUTHFIELD, Mich.--(BUSINESS WIRE)--Federal-Mogul Corporation (OTCBB: FEMO - News) announced that its Class A Common Stock will be listed on the NASDAQ Global Market on April 23, 2008, and will trade under the ticker symbol “FDML.” President and Chief Executive Officer José Maria Alapont and a representative group of employees are slated to commemorate the listing at the NASDAQ MarketSite in New York at the market opening on April 23.
Source: Federal-Mogul Corporation
· Federal-Mogul will appear at the NASDAQ MarketSite on April 23 for its stock listing. (Photo: Business Wire) . View Multimedia Gallery
“The listing of Federal-Mogul’s Common Stock on NASDAQ will be a significant milestone for the Company. We are focused on executing our sustainable global profitable growth strategy based on leading technology and innovation to satisfy customers, shareholders and employees,” Alapont said.
Federal-Mogul announced on April 8, 2008 that it will report its first quarter 2008 results on April 22, 2008.
About Federal-Mogul
Federal-Mogul Corporation is a leading global supplier, serving the world’s foremost original equipment manufacturers of automotive, light commercial, heavy-duty, agricultural, marine, rail, off-road and industrial vehicles, as well as the worldwide aftermarket. The Company’s leading technology and innovation, lean manufacturing expertise, as well as marketing and distribution deliver world-class products, brands and services with quality excellence at a competitive cost. Federal-Mogul is focused on its sustainable global profitable growth strategy, creating value and satisfaction for its customers, shareholders and employees. Federal-Mogul was founded in Detroit in 1899. The Company is headquartered in Southfield, Michigan, and employs 50,000 people in 35 countries. Visit the Company’s Web site at www.federal-mogul.com.
Forward-Looking Statements
Statements contained in this press release, which are not historical fact, including the anticipated date of listing of the Class A Common Stock on the NASDAQ Global Market, constitute "Forward-Looking Statements." Actual results may differ materially due to numerous important factors that are described in Federal-Mogul's most recent report to the SEC on Form 10-K, which may be revised or supplemented in subsequent reports to the SEC on Forms 10-Q and 8-K. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Federal-Mogul does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Note to Editors: There should be an accent symbol over the "é" in "José" above.
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5655065
Contact:
Federal-Mogul Corporation
Paula Silver, 248-354-4530
or
Jennifer Rass, 248-354-7502
habe was gefunden was das listing an der nasdaq angeht
http://biz.yahoo.com/bw/080410/20080410005709.html?.v=1
Yahoo!My Yahoo!Mail Make Y! your home pageYahoo! SearchSearch:Sign In
New User? Sign UpFinance Home -Help
Home InvestingMarket OverviewMarket StatsStocksMutual FundsETFsBondsOptionsIndustriesCurrencyEducationNews & OpinionMarketsInvesting IdeasExpert AdviceSpecial EditionsCompany FinancesProvidersPersonal FinanceBanking & BudgetingCareer & WorkCollege & EducationFamily & HomeInsuranceLoansReal EstateRetirementTaxesHow-to GuidesTech Ticker Get QuotesFinance Search 7811759
Press Release Source: Federal-Mogul Corporation
Federal-Mogul Corporation to List Class A Common Stock on NASDAQ
Thursday April 10, 10:13 am ET
SOUTHFIELD, Mich.--(BUSINESS WIRE)--Federal-Mogul Corporation (OTCBB: FEMO - News) announced that its Class A Common Stock will be listed on the NASDAQ Global Market on April 23, 2008, and will trade under the ticker symbol “FDML.” President and Chief Executive Officer José Maria Alapont and a representative group of employees are slated to commemorate the listing at the NASDAQ MarketSite in New York at the market opening on April 23.
Source: Federal-Mogul Corporation
· Federal-Mogul will appear at the NASDAQ MarketSite on April 23 for its stock listing. (Photo: Business Wire) . View Multimedia Gallery
“The listing of Federal-Mogul’s Common Stock on NASDAQ will be a significant milestone for the Company. We are focused on executing our sustainable global profitable growth strategy based on leading technology and innovation to satisfy customers, shareholders and employees,” Alapont said.
Federal-Mogul announced on April 8, 2008 that it will report its first quarter 2008 results on April 22, 2008.
About Federal-Mogul
Federal-Mogul Corporation is a leading global supplier, serving the world’s foremost original equipment manufacturers of automotive, light commercial, heavy-duty, agricultural, marine, rail, off-road and industrial vehicles, as well as the worldwide aftermarket. The Company’s leading technology and innovation, lean manufacturing expertise, as well as marketing and distribution deliver world-class products, brands and services with quality excellence at a competitive cost. Federal-Mogul is focused on its sustainable global profitable growth strategy, creating value and satisfaction for its customers, shareholders and employees. Federal-Mogul was founded in Detroit in 1899. The Company is headquartered in Southfield, Michigan, and employs 50,000 people in 35 countries. Visit the Company’s Web site at www.federal-mogul.com.
Forward-Looking Statements
Statements contained in this press release, which are not historical fact, including the anticipated date of listing of the Class A Common Stock on the NASDAQ Global Market, constitute "Forward-Looking Statements." Actual results may differ materially due to numerous important factors that are described in Federal-Mogul's most recent report to the SEC on Form 10-K, which may be revised or supplemented in subsequent reports to the SEC on Forms 10-Q and 8-K. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Federal-Mogul does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Note to Editors: There should be an accent symbol over the "é" in "José" above.
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5655065
Contact:
Federal-Mogul Corporation
Paula Silver, 248-354-4530
or
Jennifer Rass, 248-354-7502
Wenn die am 23.4. an der Nasdaq gelistet werden, dann werden wohl am 22.4. gute Zahlen veröffentlicht. Also jetzt rein?
was ist denn mit den altaktien?
Antwort auf Beitrag Nr.: 33.863.502 von zweifler am 11.04.08 09:12:56mit was willst du denn rein??
Antwort auf Beitrag Nr.: 33.866.701 von r6fahrer am 11.04.08 14:35:16wertlos
Antwort auf Beitrag Nr.: 33.866.852 von Flippy11 am 11.04.08 14:49:48mit Geld?
Antwort auf Beitrag Nr.: 33.866.852 von Flippy11 am 11.04.08 14:49:48Ehrlich gesagt, ich trau dem Braten noch nicht. Wenn ich was übrig hätte was ich nicht bräuchte dann würde ich mal so 5k investieren. Da ich das aber nicht habe wird es wohl nichts werden.
Wer hat seine Optionen schon ausgeübt?
Wer hat seine Optionen schon ausgeübt?
Hallo Ihr super Broker !
Meine Bank hat mir schon am 15.1 einen Brief geschickt, das sie mir die Optionsscheine gutgeschrieben hätten.
Verhältnis: 1:0,075528
Folgender Satz aus diesem Schreiben ist maßgebend.
Ein Optionsschein berechtigt Sie, eine Aktie der FEDERAL-MOGUL CORP. (ISIN US3135491070/WKN 851057) zum Preis von USD 45,814999 bis zum 27.12.2014 zu beziehen.
Ich denke das sagt alles wichtige aus.
Gruß Hulk
Meine Bank hat mir schon am 15.1 einen Brief geschickt, das sie mir die Optionsscheine gutgeschrieben hätten.
Verhältnis: 1:0,075528
Folgender Satz aus diesem Schreiben ist maßgebend.
Ein Optionsschein berechtigt Sie, eine Aktie der FEDERAL-MOGUL CORP. (ISIN US3135491070/WKN 851057) zum Preis von USD 45,814999 bis zum 27.12.2014 zu beziehen.
Ich denke das sagt alles wichtige aus.
Gruß Hulk
Antwort auf Beitrag Nr.: 33.870.637 von Hulk79 am 11.04.08 21:25:39Das bedeutet, du hast für 1 Optionsschein ca. 4€ bezahlt. (letzter Kurs 0,3€ x 13)Kurs des Scheines zur Zeit ca. 3$. Macht schon wieder 50% Verlust. Wenn ich mit dem Schein die Aktien beziehen möchte muss sich der Kurs der Aktie mehr als verdoppeln. Da kauft man doch besser jetzt die Aktie und verkloppt dann den Schein und die Aktien.
Hier sind die Altaktionäre wieder mal richtig ausgenommen worden. Genau wie die weltweiten Standorte. Es wird nur Geld herausgezogen und kaum investiert.
Hier sind die Altaktionäre wieder mal richtig ausgenommen worden. Genau wie die weltweiten Standorte. Es wird nur Geld herausgezogen und kaum investiert.
Hallo
Heute hoher Handel in USA
Langsam kommt Bewegung in die Aktie
Bis jetzt ca. 282000 St.gehandelt
Flippy11
Heute hoher Handel in USA
Langsam kommt Bewegung in die Aktie
Bis jetzt ca. 282000 St.gehandelt
Flippy11
Hallo
Hier Q1 2008
Press Release Source: Federal-Mogul Corporation
Federal-Mogul Corporation Reports Record First Quarter Sales Combined with Solid Operating Performance
Tuesday April 22, 8:00 am ET
SOUTHFIELD, Mich.--(BUSINESS WIRE)--Federal-Mogul Corporation (OTCBB: FEMO - News) today reported its first quarter 2008 financial results with record quarterly sales of $1.86 billion, an increase of eight percent over the same period of the prior year. During the first quarter, the company recorded a one-time, non-cash charge of $68 million relating to re-valuation of inventory, as required by fresh-start reporting following emergence from Chapter 11 in December 2007. The company reported a net loss of $(32) million as compared to net income of $5 million in the first quarter of 2007. Without the inventory charge and the associated tax impact, net income would have been $32 million, or two percent of sales. Federal-Mogul’s Operational EBITDA1 was $206 million or 11 percent for Q1 2008, up from the same period in 2007 when the company reported Operational EBITDA of $199 million.
Financial Summary (in $millions)
Three Months Ended
March 31, 2008
2008
2007
Net sales 1,859 1,716
Gross margin 266 308
Adjusted gross margin 2
335 308
Selling, general and administrative expenses (209) (207)
Net income (loss) (32) 5
Adjusted net income 3 32 5
Operational EBITDA 1 206 199
During the quarter, sales were $1.86 billion, up $143 million, or eight percent above the same period in 2007. The sales results were impacted by favorable currency exchange of $120 million and increased sales of $23 million, principally to European original equipment vehicle manufacturers. The company continues to benefit from strong new business bookings with balanced regional sales and a globally diverse customer base with no single customer accounting for more than seven percent of global sales as of December 31, 2007.
Federal-Mogul realized a gross margin of $266 million or 14.3 percent of sales in the first quarter of 2008, versus $308 million or 17.9 percent of sales in the first quarter of 2007. The gross margin was unfavorably impacted by a $68 million, non-cash inventory adjustment previously discussed. Without the inventory adjustment, gross margin for the quarter would have been $335 million, or nine percent above the prior year and at 18 percent of sales. This improvement shows that the company maintained its operating performance in spite of ongoing raw materials, energy and other general industry cost pressure.
Selling, general and administrative (SG&A) expense for the quarter was $209 million, in comparison to $207 million in the same period in 2007. SG&A as a percentage of sales was favorably reduced in the first quarter of 2008 to 11.2 percent compared to 12.1 percent in the same period a year ago. The change in SG&A comprised a reduction of $8 million offset by unfavorable currency exchange of $10 million during the quarter.
Federal-Mogul reported cash flow4 for the first quarter of 2008 of $49 million, which compares favorably to $12 million in the same period of 2007.
On April 7, Federal-Mogul announced it will list its Class A Common Stock on the NASDAQ Global Market on April 23, 2008, and will trade under the symbol “FDML.”
“We are pleased to report a strong quarter, which shows the benefits of our solid operating performance, combined with our customer, regional and product line diversification. More than 60 percent of our revenue in the quarter was generated outside the U.S.,” said President and Chief Executive Officer José Maria Alapont. “The Operational EBITDA is improved as a result of our restructuring and cost-reduction efforts as outlined in our strategy for sustainable global profitable growth.”
1 Operational EBITDA is defined as earnings before interest, income taxes, depreciation and amortization, and certain items such as restructuring and impairment charges, Chapter 11 related reorganization expenses, gains or losses on the sales of businesses, and the impact on gross margin of the fresh-start reporting valuation of inventory.
2 Adjusted gross margin is equal to reported gross margin excluding the $68 million impact on gross margin of the fresh-start reporting valuation of inventory.
3 Adjusted net income is equal to reported net income excluding the $68 million impact on gross margin on the fresh-start reporting of inventory adjusted for the tax benefit on the inventory adjustment of $5 million.
4 Cash flow is equal to net cash provided by operating activities less net cash used by investing per the attached statement of cash flows.
About Federal-Mogul
Federal-Mogul Corporation is a leading global supplier of powertrain and safety technologies, serving the world’s foremost original equipment manufacturers of automotive, light commercial, heavy-duty, agricultural, marine, rail, off-road and industrial vehicles, as well as the worldwide aftermarket. The company’s leading technology and innovation, lean manufacturing expertise, as well as marketing and distribution deliver world-class products, brands and services with quality excellence at a competitive cost. Federal-Mogul is focused on its global profitable growth strategy, creating value and satisfaction for its customers, shareholders and employees. Federal-Mogul was founded in Detroit in 1899. The company is headquartered in Southfield, Michigan, and employs 50,000 people in 35 countries. Visit the company’s Web site at www.federal-mogul.com.
Forward-Looking Statements
Statements contained in this press release, which are not historical fact, including the anticipated date of listing of the Class A Common Stock on the NASDAQ, constitute “Forward-Looking Statements.” Actual results may differ materially due to numerous important factors that are described in Federal-Mogul's most recent report to the SEC on Form 10-K, which may be revised or supplemented in subsequent reports to the SEC on Forms 10-Q and 8-K. Such factors include, among others, the cost and timing of implementing restructuring actions, Federal-Mogul’s ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Federal-Mogul does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Note to Editors: There should be an accent symbol over the “e” in “José” above.
FEDERAL-MOGUL CORPORATION
STATEMENTS OF OPERATIONS
(Millions of Dollars, Except Share and Per Share Data)
(Unaudited)
Successor
Company
Predecessor
Company
Three Months Ended
March 31
2008 2007
Net sales $ 1,859.2 $ 1,716.5
Cost of products sold (1,592.8 ) (1,408.7 )
Gross margin 266.4 307.8
Selling, general and administrative expenses (208.7 ) (206.9 )
Interest expense, net (48.2 ) (50.0 )
Amortization expense (16.1 ) (4.6 )
Chapter 11 and Administration related reorganization expenses (9.8 ) (13.6 )
Equity earnings of unconsolidated affiliates 8.7 7.9
Restructuring expense, net (1.7 ) (16.1 )
Other income (expense), net (2.5 ) 11.1
Income (loss) before income taxes (11.9 ) 35.6
Income tax expense (19.6 ) (31.1 )
Net income (loss) $ (31.5 ) $ 4.5
Basic and diluted income (loss) per common share:
Net income (loss) per common share $ (0.31 ) $ 0.05
FEDERAL-MOGUL CORPORATION
BALANCE SHEETS
(Millions of Dollars)
Successor Company
(Unaudited)
March 31 December 31
2008
2007
Current assets:
Cash and equivalents $ 764.4 $ 425.4
Accounts receivable, net 1,268.0 1,095.9
Inventories, net 1,067.5 1,074.3
Prepaid expenses and other current assets 322.0 526.4
Total current assets 3,421.9 3,122.0
Property, plant and equipment, net 2,141.0 2,061.8
Goodwill and indefinite-lived intangible assets 1,850.2 1,852.0
Definite-lived intangible assets, net 300.7 310.0
Other noncurrent assets 531.4 520.5
$ 8,245.2 $ 7,866.3
Current liabilities:
Short-term debt, including current portion of long-term debt $ 123.3 $ 117.8
Accounts payable 710.2 726.6
Accrued liabilities 483.0 496.0
Current portion of postemployment benefit liability 62.3 61.2
Other accrued liabilities 197.2 167.3
Total current liabilities 1,576.0 1,568.9
Long-term debt 2,811.4 2,517.6
Postemployment benefits 966.9 936.9
Long-term portion of deferred income taxes 340.3 331.4
Other accrued liabilities 287.6 300.3
Minority interest in consolidated affiliates 98.1 87.5
Shareholders’ equity:
Common stock 1.0 1.0
Additional paid-in capital, including warrants 2,122.7 2,122.7
Accumulated Deficit (31.5 ) -
Accumulated other comprehensive income 72.7 -
Total shareholders’ equity 2,164.9 2,123.7
Total Liabilities and Shareholders' Equity $ 8,245.2 $ 7,866.3
FEDERAL-MOGUL CORPORATION
STATEMENTS OF CASH FLOWS
(Millions of Dollars)
(Unaudited)
Successor
Company
Predecessor
Company
Three Months Ended
March 31
2008 2007
Cash Provided From (Used By) Operating Activities
Net income (loss) $ (31.5 ) $ 4.5
Adjustments to reconcile net earnings to net cash provided from (used by) operating activities:
Depreciation and amortization 88.4 83.9
Cash received from 524g Trust 225.0 -
Change in postemployment benefits, including pensions (9.7 ) (16.5 )
Changes in deferred taxes 1.8 (1.8 )
Changes in operating assets and liabilities:
Accounts receivable (138.8 ) (143.9 )
Inventories 36.9 (5.8 )
Accounts payable (42.9 ) 43.8
Other assets and liabilities (13.5 ) 85.7
Net Cash Provided From Operating Activities 115.7 49.9
Cash Provided From (Used By) Investing Activities
Expenditures for property, plant and equipment (64.1 ) (54.7 )
Net proceeds from the sale of property, plant and equipment 2.6 16.9
Payments to acquire business (4.7 ) -
Net Cash Used By Investing Activities (66.2 ) (37.8 )
Cash Provided From (Used By) Financing Activities
Proceeds from borrowings on exit facility 2,082.0 -
Repayment of Tranche A, Revolver and PIK Notes (1,798.2 ) -
Proceeds from borrowings on DIP credit facility - 90.0
Principal payments on DIP credit facility - (88.1 )
Increase (Decrease) in short-term debt (6.3 ) 9.4
Increase (decrease) in other long-term debt 9.9 (1.2 )
Payments on factoring arrangements (2.4 ) (58.7 )
Debt issuance fees (0.3 ) (0.3 )
Net Cash Provided From (Used By) Financing Activities 284.7 (48.9 )
Effect of foreign currency exchange rate fluctuations on cash 4.8 1.5
Increase (decrease) in cash and equivalents 339.0 (35.3 )
Cash and equivalents at beginning of period 425.4 359.3
Cash and equivalents at end of period $ 764.4 $ 324.0
FEDERAL-MOGUL CORPORATION
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(Millions of Dollars)
(Unaudited)
Successor
Company
Predecessor
Company
Three Months Ended
March 31
2008 2007
Gross margin as reported $ 266.4 $ 307.8
Adjustment to exclude impact of fresh-start valuation of inventory 68.2 -
Adjusted gross margin $ 334.6 $ 307.8
Net Income (Loss) $ (31.5 ) $ 4.5
Adjustment to exclude impact of fresh-start valuation of inventory 68.2 -
Income tax benefit of inventory adjustment (4.9 ) -
Adjusted Net Income $ 31.8 $ 4.5
Income (loss) before income taxes $ (11.9 ) $ 35.6
Depreciation and amortization 88.4 83.9
Chapter 11 and Administration related reorganization expenses 9.8 13.6
Interest expense, net 48.2 50.0
Restructuring expense, net 1.7 16.1
Fresh-start Inventory Adjustment 68.2 -
Other 1.2 0.2
Operational EBITDA $ 205.6 $ 199.4
Management believes that excluding the non-recurring, non-cash impact of fresh-start valuation of inventory from gross margin and net loss provides information most comparable to that of the prior year.
Management believes that Operational EBITDA most closely approximates the cash flow associated with the operational earnings of the company and uses Operational EBITDA to measure the performance of its operations. Operational EBITDA is defined as earnings before interest, income taxes, depreciation and amortization, and certain items such as restructuring and impairment charges, Chapter 11 related reorganization expenses, gains or losses on the sales of businesses, and the impact on gross margin of the fresh-start reporting valuation of inventory.
Contact:
Federal-Mogul Corporation
Steve Gaut, 248-354-7826
Jennifer Rass, 248-354-7502
--------------------------------------------------------------------------------
Source: Federal-Mogul Corporation
Hier Q1 2008
Press Release Source: Federal-Mogul Corporation
Federal-Mogul Corporation Reports Record First Quarter Sales Combined with Solid Operating Performance
Tuesday April 22, 8:00 am ET
SOUTHFIELD, Mich.--(BUSINESS WIRE)--Federal-Mogul Corporation (OTCBB: FEMO - News) today reported its first quarter 2008 financial results with record quarterly sales of $1.86 billion, an increase of eight percent over the same period of the prior year. During the first quarter, the company recorded a one-time, non-cash charge of $68 million relating to re-valuation of inventory, as required by fresh-start reporting following emergence from Chapter 11 in December 2007. The company reported a net loss of $(32) million as compared to net income of $5 million in the first quarter of 2007. Without the inventory charge and the associated tax impact, net income would have been $32 million, or two percent of sales. Federal-Mogul’s Operational EBITDA1 was $206 million or 11 percent for Q1 2008, up from the same period in 2007 when the company reported Operational EBITDA of $199 million.
Financial Summary (in $millions)
Three Months Ended
March 31, 2008
2008
2007
Net sales 1,859 1,716
Gross margin 266 308
Adjusted gross margin 2
335 308
Selling, general and administrative expenses (209) (207)
Net income (loss) (32) 5
Adjusted net income 3 32 5
Operational EBITDA 1 206 199
During the quarter, sales were $1.86 billion, up $143 million, or eight percent above the same period in 2007. The sales results were impacted by favorable currency exchange of $120 million and increased sales of $23 million, principally to European original equipment vehicle manufacturers. The company continues to benefit from strong new business bookings with balanced regional sales and a globally diverse customer base with no single customer accounting for more than seven percent of global sales as of December 31, 2007.
Federal-Mogul realized a gross margin of $266 million or 14.3 percent of sales in the first quarter of 2008, versus $308 million or 17.9 percent of sales in the first quarter of 2007. The gross margin was unfavorably impacted by a $68 million, non-cash inventory adjustment previously discussed. Without the inventory adjustment, gross margin for the quarter would have been $335 million, or nine percent above the prior year and at 18 percent of sales. This improvement shows that the company maintained its operating performance in spite of ongoing raw materials, energy and other general industry cost pressure.
Selling, general and administrative (SG&A) expense for the quarter was $209 million, in comparison to $207 million in the same period in 2007. SG&A as a percentage of sales was favorably reduced in the first quarter of 2008 to 11.2 percent compared to 12.1 percent in the same period a year ago. The change in SG&A comprised a reduction of $8 million offset by unfavorable currency exchange of $10 million during the quarter.
Federal-Mogul reported cash flow4 for the first quarter of 2008 of $49 million, which compares favorably to $12 million in the same period of 2007.
On April 7, Federal-Mogul announced it will list its Class A Common Stock on the NASDAQ Global Market on April 23, 2008, and will trade under the symbol “FDML.”
“We are pleased to report a strong quarter, which shows the benefits of our solid operating performance, combined with our customer, regional and product line diversification. More than 60 percent of our revenue in the quarter was generated outside the U.S.,” said President and Chief Executive Officer José Maria Alapont. “The Operational EBITDA is improved as a result of our restructuring and cost-reduction efforts as outlined in our strategy for sustainable global profitable growth.”
1 Operational EBITDA is defined as earnings before interest, income taxes, depreciation and amortization, and certain items such as restructuring and impairment charges, Chapter 11 related reorganization expenses, gains or losses on the sales of businesses, and the impact on gross margin of the fresh-start reporting valuation of inventory.
2 Adjusted gross margin is equal to reported gross margin excluding the $68 million impact on gross margin of the fresh-start reporting valuation of inventory.
3 Adjusted net income is equal to reported net income excluding the $68 million impact on gross margin on the fresh-start reporting of inventory adjusted for the tax benefit on the inventory adjustment of $5 million.
4 Cash flow is equal to net cash provided by operating activities less net cash used by investing per the attached statement of cash flows.
About Federal-Mogul
Federal-Mogul Corporation is a leading global supplier of powertrain and safety technologies, serving the world’s foremost original equipment manufacturers of automotive, light commercial, heavy-duty, agricultural, marine, rail, off-road and industrial vehicles, as well as the worldwide aftermarket. The company’s leading technology and innovation, lean manufacturing expertise, as well as marketing and distribution deliver world-class products, brands and services with quality excellence at a competitive cost. Federal-Mogul is focused on its global profitable growth strategy, creating value and satisfaction for its customers, shareholders and employees. Federal-Mogul was founded in Detroit in 1899. The company is headquartered in Southfield, Michigan, and employs 50,000 people in 35 countries. Visit the company’s Web site at www.federal-mogul.com.
Forward-Looking Statements
Statements contained in this press release, which are not historical fact, including the anticipated date of listing of the Class A Common Stock on the NASDAQ, constitute “Forward-Looking Statements.” Actual results may differ materially due to numerous important factors that are described in Federal-Mogul's most recent report to the SEC on Form 10-K, which may be revised or supplemented in subsequent reports to the SEC on Forms 10-Q and 8-K. Such factors include, among others, the cost and timing of implementing restructuring actions, Federal-Mogul’s ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Federal-Mogul does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Note to Editors: There should be an accent symbol over the “e” in “José” above.
FEDERAL-MOGUL CORPORATION
STATEMENTS OF OPERATIONS
(Millions of Dollars, Except Share and Per Share Data)
(Unaudited)
Successor
Company
Predecessor
Company
Three Months Ended
March 31
2008 2007
Net sales $ 1,859.2 $ 1,716.5
Cost of products sold (1,592.8 ) (1,408.7 )
Gross margin 266.4 307.8
Selling, general and administrative expenses (208.7 ) (206.9 )
Interest expense, net (48.2 ) (50.0 )
Amortization expense (16.1 ) (4.6 )
Chapter 11 and Administration related reorganization expenses (9.8 ) (13.6 )
Equity earnings of unconsolidated affiliates 8.7 7.9
Restructuring expense, net (1.7 ) (16.1 )
Other income (expense), net (2.5 ) 11.1
Income (loss) before income taxes (11.9 ) 35.6
Income tax expense (19.6 ) (31.1 )
Net income (loss) $ (31.5 ) $ 4.5
Basic and diluted income (loss) per common share:
Net income (loss) per common share $ (0.31 ) $ 0.05
FEDERAL-MOGUL CORPORATION
BALANCE SHEETS
(Millions of Dollars)
Successor Company
(Unaudited)
March 31 December 31
2008
2007
Current assets:
Cash and equivalents $ 764.4 $ 425.4
Accounts receivable, net 1,268.0 1,095.9
Inventories, net 1,067.5 1,074.3
Prepaid expenses and other current assets 322.0 526.4
Total current assets 3,421.9 3,122.0
Property, plant and equipment, net 2,141.0 2,061.8
Goodwill and indefinite-lived intangible assets 1,850.2 1,852.0
Definite-lived intangible assets, net 300.7 310.0
Other noncurrent assets 531.4 520.5
$ 8,245.2 $ 7,866.3
Current liabilities:
Short-term debt, including current portion of long-term debt $ 123.3 $ 117.8
Accounts payable 710.2 726.6
Accrued liabilities 483.0 496.0
Current portion of postemployment benefit liability 62.3 61.2
Other accrued liabilities 197.2 167.3
Total current liabilities 1,576.0 1,568.9
Long-term debt 2,811.4 2,517.6
Postemployment benefits 966.9 936.9
Long-term portion of deferred income taxes 340.3 331.4
Other accrued liabilities 287.6 300.3
Minority interest in consolidated affiliates 98.1 87.5
Shareholders’ equity:
Common stock 1.0 1.0
Additional paid-in capital, including warrants 2,122.7 2,122.7
Accumulated Deficit (31.5 ) -
Accumulated other comprehensive income 72.7 -
Total shareholders’ equity 2,164.9 2,123.7
Total Liabilities and Shareholders' Equity $ 8,245.2 $ 7,866.3
FEDERAL-MOGUL CORPORATION
STATEMENTS OF CASH FLOWS
(Millions of Dollars)
(Unaudited)
Successor
Company
Predecessor
Company
Three Months Ended
March 31
2008 2007
Cash Provided From (Used By) Operating Activities
Net income (loss) $ (31.5 ) $ 4.5
Adjustments to reconcile net earnings to net cash provided from (used by) operating activities:
Depreciation and amortization 88.4 83.9
Cash received from 524g Trust 225.0 -
Change in postemployment benefits, including pensions (9.7 ) (16.5 )
Changes in deferred taxes 1.8 (1.8 )
Changes in operating assets and liabilities:
Accounts receivable (138.8 ) (143.9 )
Inventories 36.9 (5.8 )
Accounts payable (42.9 ) 43.8
Other assets and liabilities (13.5 ) 85.7
Net Cash Provided From Operating Activities 115.7 49.9
Cash Provided From (Used By) Investing Activities
Expenditures for property, plant and equipment (64.1 ) (54.7 )
Net proceeds from the sale of property, plant and equipment 2.6 16.9
Payments to acquire business (4.7 ) -
Net Cash Used By Investing Activities (66.2 ) (37.8 )
Cash Provided From (Used By) Financing Activities
Proceeds from borrowings on exit facility 2,082.0 -
Repayment of Tranche A, Revolver and PIK Notes (1,798.2 ) -
Proceeds from borrowings on DIP credit facility - 90.0
Principal payments on DIP credit facility - (88.1 )
Increase (Decrease) in short-term debt (6.3 ) 9.4
Increase (decrease) in other long-term debt 9.9 (1.2 )
Payments on factoring arrangements (2.4 ) (58.7 )
Debt issuance fees (0.3 ) (0.3 )
Net Cash Provided From (Used By) Financing Activities 284.7 (48.9 )
Effect of foreign currency exchange rate fluctuations on cash 4.8 1.5
Increase (decrease) in cash and equivalents 339.0 (35.3 )
Cash and equivalents at beginning of period 425.4 359.3
Cash and equivalents at end of period $ 764.4 $ 324.0
FEDERAL-MOGUL CORPORATION
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(Millions of Dollars)
(Unaudited)
Successor
Company
Predecessor
Company
Three Months Ended
March 31
2008 2007
Gross margin as reported $ 266.4 $ 307.8
Adjustment to exclude impact of fresh-start valuation of inventory 68.2 -
Adjusted gross margin $ 334.6 $ 307.8
Net Income (Loss) $ (31.5 ) $ 4.5
Adjustment to exclude impact of fresh-start valuation of inventory 68.2 -
Income tax benefit of inventory adjustment (4.9 ) -
Adjusted Net Income $ 31.8 $ 4.5
Income (loss) before income taxes $ (11.9 ) $ 35.6
Depreciation and amortization 88.4 83.9
Chapter 11 and Administration related reorganization expenses 9.8 13.6
Interest expense, net 48.2 50.0
Restructuring expense, net 1.7 16.1
Fresh-start Inventory Adjustment 68.2 -
Other 1.2 0.2
Operational EBITDA $ 205.6 $ 199.4
Management believes that excluding the non-recurring, non-cash impact of fresh-start valuation of inventory from gross margin and net loss provides information most comparable to that of the prior year.
Management believes that Operational EBITDA most closely approximates the cash flow associated with the operational earnings of the company and uses Operational EBITDA to measure the performance of its operations. Operational EBITDA is defined as earnings before interest, income taxes, depreciation and amortization, and certain items such as restructuring and impairment charges, Chapter 11 related reorganization expenses, gains or losses on the sales of businesses, and the impact on gross margin of the fresh-start reporting valuation of inventory.
Contact:
Federal-Mogul Corporation
Steve Gaut, 248-354-7826
Jennifer Rass, 248-354-7502
--------------------------------------------------------------------------------
Source: Federal-Mogul Corporation
Antwort auf Beitrag Nr.: 33.942.228 von Flippy11 am 22.04.08 14:40:01Und, hilft dir das bei deiner Entscheidung hier zu investieren? Ohne die Währungsgewinne wäre es sehr mau. FM ist noch lange nicht über den Berg. Wir haben wiedermal Bestellstop. Entweder wird das ganze Geld gebraucht um die Bilanzen aufzupeppen oder uns geht es wirklich schlecht.
Gestern ganz toller Auftritt von Alapont an der Nasdaq. Er durfte die Glocke läuten. Groß geholfen hat es aber nicht. Mal schauen wann WO die neuen gelistet hat.
Hier ist ja wirklich tote Hose. Freitag wurden Rekordergebnisse verkündet und der Kurs macht Luftsprünge. Muss aber noch einiges aufholen.
Leider wird den Standorten die Luft abgedrückt. Wir müssten dringend eine neue Maschine haben um künftige Produkte fertigen zu können. Diese Investition zieht sch jetzt schon 2 Jahre hin. Eine andere Kundenforderung kann nicht umgesetzt werden weil wir das Geld nicht bekommen.
Die US-Autokonjunktur wird sich auch sehr negativ bemerkbar machen. Bleibe hier sehr skeptisch und außen vor.
Leider wird den Standorten die Luft abgedrückt. Wir müssten dringend eine neue Maschine haben um künftige Produkte fertigen zu können. Diese Investition zieht sch jetzt schon 2 Jahre hin. Eine andere Kundenforderung kann nicht umgesetzt werden weil wir das Geld nicht bekommen.
Die US-Autokonjunktur wird sich auch sehr negativ bemerkbar machen. Bleibe hier sehr skeptisch und außen vor.
Antwort auf Beitrag Nr.: 34.601.376 von zweifler am 28.07.08 20:51:16Der letzte macht das Licht aus.
Wer hat denn hier noch ein Auge drauf? Aktienpreis ist ja langsam wieder verlockend.
Antwort auf Beitrag Nr.: 36.750.193 von zweifler am 12.03.09 07:21:45Hallo
Mal wieder was aus Wiesbaden 436 Entlassungen stehen an Kurzarbeit seid Dezember und nicht´s neuees in Sicht,wie soll das weitergehen??
MFG
Flippy
Mal wieder was aus Wiesbaden 436 Entlassungen stehen an Kurzarbeit seid Dezember und nicht´s neuees in Sicht,wie soll das weitergehen??
MFG
Flippy
Antwort auf Beitrag Nr.: 36.754.852 von Flippy11 am 12.03.09 18:09:51Das kann ich toppen. Kurzarbeit seit August. Trotz Standortsicherung schon 5 Leute entlassen (von 190).
Burscheid sollen 300 entlassen werden. Kann man nur mit Aktiengewinnen gegen steuern. Jetzt mal was wagen?
Burscheid sollen 300 entlassen werden. Kann man nur mit Aktiengewinnen gegen steuern. Jetzt mal was wagen?
Schade, die ersten 100% schon verpasst.
und weiter gehts ..
unbemerkt von allen steigt sie weiter. FM ist in einem schönen Aufwärtstrend. Jetzt noch das Hoch vom Feb. durchstoßen und es ist Luft bis 12$. Das wäre vom Tief eine Verfünffachung.
Schaut euch den Chart an. Sie läuft und läuft..
Echt Traumhaft. Hier scheint es kein halten zu geben.
Antwort auf Beitrag Nr.: 36.918.649 von zweifler am 03.04.09 22:12:01Nach einer Woche Urlaub sieht das hier ja sehr schön aus.
Bei dem schwachen Markt echt gut geschlagen. Macht sehr viel Spaß hier.
Gestern ausgestoppt worden. 50% sind aber auch nicht schlecht bei diesem Wert. Vielleicht komme ich tiefer nochmal rein.
Tja, tiefer Einstieg hat nicht geklappt. Läuft hier aber super hoch das Teil. Unbemerkt schon verfünffacht. Das ist Pennystockperformance. Und das in der Autobranche wo einer nach dem anderen abkackt.
Antwort auf Beitrag Nr.: 37.080.166 von zweifler am 01.05.09 17:58:59...bei Ford haben wir mittlerweile ebenfalls einen Faktor zwischen 4 und 5.
E.S.T.
E.S.T.
Antwort auf Beitrag Nr.: 37.082.384 von E.S.T. am 02.05.09 12:20:40Bin hier wieder dabei. Das läuft einfach nur Klasse. Schon wieder 15% vorne.
Aus dem Firmenverbund kommen nur schlechte Nachrichten. Die werden alle ignoriert. Der Kurs will nach oben.
Aus dem Firmenverbund kommen nur schlechte Nachrichten. Die werden alle ignoriert. Der Kurs will nach oben.
Antwort auf Beitrag Nr.: 37.084.406 von zweifler am 03.05.09 10:11:48Hallo
Seid heute unbefristeter Streik in Wiesbaden und der Kurs geht in den Keller.Alles steht still.
Mal sehen wie lange das so noch geht.
Flippy11
Seid heute unbefristeter Streik in Wiesbaden und der Kurs geht in den Keller.Alles steht still.
Mal sehen wie lange das so noch geht.
Flippy11
Antwort auf Beitrag Nr.: 37.110.531 von Flippy11 am 06.05.09 17:13:05Gestern war Telefonkonferenz. Ab dem Zeitpunkt ging der Kurs nur runter. Hab heute die Reißleine gezogen, leider etwas spät.
ps. In Burscheid wollten Sie streiken, durften aber nicht.
ps. In Burscheid wollten Sie streiken, durften aber nicht.
Antwort auf Beitrag Nr.: 37.110.555 von zweifler am 06.05.09 17:15:19Hallo
Wieso dürft ihr nicht streiken?Wenn ihr eine urabstimmung macht und die Mehrheit für Streik ist dnn ist es so.
Flippy11
Wieso dürft ihr nicht streiken?Wenn ihr eine urabstimmung macht und die Mehrheit für Streik ist dnn ist es so.
Flippy11
Bin nicht in Burscheid. Sollte eine Demo auf einem Marktplatz sein. Wurde unter Androhung von Kündigungen untersagt. Musst mal googeln.
Heute wieder aufwärts. So ein Mist gestern.
Heute wieder aufwärts. So ein Mist gestern.
Hallo
Seid wieder Sreik in Wiesbaden,vorläufig bis Morgen
Seid wieder Sreik in Wiesbaden,vorläufig bis Morgen
Ist ja ganz gut abgegangen hier die letzten Tage. Zahlen sind für das Umfeld auch gut.
Hier gibt es nur eine Richtung. Der Chart sieht klasse aus. Vielleicht nochmal eine Sünde wert.
Antwort auf Beitrag Nr.: 38.711.145 von zweifler am 11.01.10 19:00:11Hallo
Schlechte Zahlen heute oder warum fällt der Kurs??
Schlechte Zahlen heute oder warum fällt der Kurs??
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