Financial outlook
Ford Motor Company Adjusts Production to Lower Industry Volume, Shift in Customer Preferences
Ford's Profit Outlook Revised
DEARBORN, Mich., May 22, 2008 – Ford Motor Company [NYSE: F] today said it is making adjustments to its production plan and revising downward its near-term North American Automotive profit outlook, while planning further manufacturing capacity realignments, additional cost reductions and changes to its product mix to respond to the rapidly changing business environment in the U.S.
Highlights:
* North American car production increased and truck production reduced for remainder of 2008 to reflect the continuation of rapid changes in customer buying preferences
Cummins Chairman and CEO Tim Solso Tells Shareholders Cummins on Pace for Another Record Year in 2008
COLUMBUS, IND., May 13, 2008 -- Cummins Inc. (NYSE: CMI) is on pace to report a fifth consecutive year of record sales and profits in 2008, and is poised for significant further growth over the next several years, Chairman and Chief Executive Officer Tim Solso told shareholders today at the Company’s annual meeting.
Cummins shareholders re-elected all nine Cummins directors for another year and ratified the selection of PriceWaterhouse Coopers LLC as the Company’s external auditing firm. Shareholders also voted to increase the number of authorized shares of common stock from 300 million to 500 million and defeated a shareholder proposal calling on the Company to take steps to adhere to the conventions of the International Labor Organization.
Mitsubishi Motors Announces FY2007 Full-year Results, FY2008 Forecasts
April 25, 2008, Tokyo -- Mitsubishi Motors Corporation (MMC) today announced its full-year results for the year ending March 31, 2008, together with forecasts for the year ending March 31, 2009.
1. Fiscal 2007 full-year result (¥1 = US $ 0.0096)
(1) Fiscal 2007 overviews
Mitsubishi Motors' consolidated sales for fiscal 2007 totaled 2 trillion 682.1 billion yen
($25.7 billion), a 22 percent increase of 479.2 billion yen ($4.60 billion) over the previous fiscal year. Factors behind the improved performance include a 10 percent growth in global retail sales over fiscal 2006, the commencement of OEM vehicle supplies to PSA Peugeot Citroen and favorable yen exchange rates.
Ford Motor Company Makes Solid Progress on Plan
$100 Million Net Income in First Quarter 2008 Preliminary Results
DEARBORN, Mich., April 24, 2008 – Ford Motor Company [NYSE: F] today reported net income of $100 million, or 5 cents per share, for the first quarter of 2008. This compares with a net loss of $282 million, or 15 cents per share, in the first quarter of 2007.
The 2008 operating data discussed herein exclude Jaguar Land Rover because it is held for sale. Jaguar Land Rover and Aston Martin data are, however, included in the 2007 data, except where otherwise noted. See tables following “Safe Harbor/Risk Factors” for the amounts attributable to Jaguar Land Rover and any necessary reconciliations to U.S. GAAP.
Honda Releases Consolidated Financial Summary for the FY Ended March 31, 2008 & Forecast for FY Ending March 31, 2009
Honda Achieved all-time record for consolidated revenue, operating income, income before income taxes, equity in income of affiliates, and net income, with increased income in all business areas
TOKYO, Japan, April 25, 2008 – Honda Motor Co., Ltd. announced that in the fiscal year ended March 31, 2008, it achieved an all-time record for consolidated net sales and other operating revenue (herein referred to as “revenue”) for the eighth consecutive fiscal year which amounted to JPY 12,002.8 billion (+8.3%) due to increased sales revenue in all business areas.
Magna International Announces 2008 Outlook
AURORA, ON, Jan. 16, 2008 /PRNewswire - FirstCall/ -- Magna International Inc. (TSX: MG.A; NYSE: MGA) announced today its financial outlook for 2008 (All amounts are in U.S. dollars).
For the full year 2008, we expect consolidated sales to be between $24.9 billion and $26.2 billion, based on full year 2008 light vehicle production volumes of approximately 14.4 million units in North America and approximately 15.6 million units in Europe. Full year 2008 average dollar content per vehicle is expected to be between $855 and $885 in North America and between $440 and $465 in Europe. We expect full year 2008 complete vehicle assembly sales to be between $3.6 billion and $3.9 billion.
ArvinMeritor Provides Updated Financial Outlook
TROY, Mich., (Oct. 3, 2007) – Today at the Deutsche Bank Leveraged Finance Conference in Scottsdale, Ariz., ArvinMeritor’s (NYSE:ARM) Senior Vice President, Strategic Initiatives, and Treasurer, Mary Lehmann, told investors that ArvinMeritor is revising its forecast for diluted earnings per share from continuing operations.

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