Dana Downgrades 2011 Sales and Profit Expectations

According to Reuters news, due to the impact of negative factors such as floods in Thailand and foreign currency exchange rates, Dana Holding Company recently lowered its sales and profit expectations for the full year of 2011.

Previously, Dana announced its third-quarter financial report that its annual sales for 2011 would be expected to increase 25% year-on-year, and adjusted interest before interest, taxes, depreciation and amortization would be 780 million US dollars. Dynamo recently stated that it expects sales for the full year of 2011 to increase year-on-year. The growth rate was 24%, and the adjusted profit before interest, tax, depreciation and amortization was US$755 million to US$765 million.

Dana’s third-quarter sales were US$2 billion, up 30% year-on-year; net income was US$110 million; adjusted EBITDA was US$200 million; diluted earnings per share was US$0.45, compared to the same period last year ( $0.28) has grown.

Thailand’s catastrophic floods over the past 50 years have caused a very heavy blow to the automotive and electronics industries. Dana has two factories in Thailand.