/C O R R E C T I O N -- Tecumseh Products Company /
August 09 2007 - 1:24PM
PR Newswire (US)
In the news release, Tecumseh Products Company (Nasdaq: TECUA;
TECUB) Reports Second Quarter 2007 Results, issued earlier today by
Tecumseh Products Company over PR Newswire, we are advised by the
company that due to a typographical error, the Company had listed
the results of income (loss) per share for the three months ended
June 30, 2006 as ($1.83); the correct results were net income per
share of $1.83. The corrected table follows. CONSOLIDATED CONDENSED
STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended Six Months
Ended (Dollars in millions except June 30, June 30, per share
amounts) 2007 2006 2007 2006 Net sales $350.7 $349.4 $707.9 $686.4
Cost of sales 323.3 333.7 651.9 649.4 Selling and administrative
expenses 34.7 34.3 70.4 71.2 Impairments, restructuring charges and
other items 0.9 2.7 (0.5) 3.2 Operating loss (8.2) (21.3) (14.0)
(37.4) Interest expense (10.3) (7.0) (18.9) (11.1) Interest income
and other, net 1.8 3.1 3.7 8.3 Loss from continuing operations
before taxes (16.7) (25.2) (29.2) (40.2) Tax benefit (2.2) (6.9)
(3.2) (9.6) Loss from continuing operations (14.5) (18.3) (26.0)
(30.6) Income (loss) from discontinued operations, net of tax
(73.7) 52.2 (79.0) 51.9 Net income (loss) ($88.2) $33.9 ($105.0)
$21.3 Basic and diluted income (loss) per share: Continuing
operations ($0.78) ($0.99) ($1.40) ($1.66) Discontinued operations
(3.99) $2.82 ($4.28) $2.81 Net income (loss) per share ($4.77)
$1.83 ($5.68) $1.15 Weighted average shares (in thousands of
shares) 18,480 18,480 18,480 18,480 Tecumseh Products Company will
host a conference call to report on the second quarter 2007 results
on Thursday, August 9, 2007 at 3:00 p.m. ET. The call will be
broadcast live over the Internet and then available for replay
through the Investor Relations section of Tecumseh Products
Company's website at http://www.tecumseh.com/. Press releases and
other investor information can be accessed via the Investor
Relations section of Tecumseh Products Company's Internet web site
at http://www.tecumseh.com/. Contact: Teresa Hess Director,
Investor Relations Tecumseh Products Company 517-423-8455
DATASOURCE: Tecumseh Products Company
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