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Sensata Technologies Holding N.V. Announces First Quarter 2012 Results

The Netherlands April 25, 2012 March 31, 2012

http://photos.prnewswire.com/prnh/20070227/CLTU192LOGO

March 31, 2012

$492.0 million $47.8 million $444.2 million $38.6 million $453.4 million

$38.9 million $0.21 $(9.5) million $(0.05) $24.4 million $0.13

$89.0 million $0.49 $91.1 million $0.50 $82.0 million $0.45

The Adjusted net income(1) for the first quarter 2012 of 18.1% was lower than the same quarter in the prior year due primarily to the dilutive impact of the two recently acquired businesses, including the related integration costs, and unfavorable movements in foreign currency exchange rates, primarily the U.S. Dollar to Euro exchange rate.

Tom Wroe $490 million $0.49

$27.4 million

March 31, 2012 $193.1 million $115.0 million $15.5 million $1.5 million

December 31

$18.5 million $4.9 million $13.6 million

March 31, 2012 $1.83 billion $1.64 billion

Robert Hureau $99.0 million

Segment Performance

Three months ended

$ in 000s




Sensors net revenue

$359,594

$301,378

$340,047

Sensors profit from operations

$97,940

$96,187

$96,938

% of Sensors net revenue

27.2%

31.9%

28.5%

Controls net revenue

$132,414

$142,851

$113,318

Controls profit from operations

$42,161

$49,357

$31,829

% of Controls net revenue

31.8%

34.6%

28.1%

Guidance

$1.95 to $2.05 billion $1.83 billion $366 to $403 million $2.00 to $2.20

$495 million to $515 million $455.0 million $0.21 to $0.25 $94 million to $102 million $0.52 to $0.56

(1) See Non-GAAP Measures for discussion of Adjusted net income which includes a reconciliation of this measure to Net income (loss).

(2) Net debt represents total indebtedness including capital lease and other financing obligations, less cash and cash equivalents.  The Pro Forma Net leverage ratio represents Net debt divided by Pro Forma Adjusted EBITDA for the last twelve months.  Pro Forma Adjusted EBITDA assumes the acquired High Temperature Sensing business had been in the results for the last twelve months.

(3) Free cash flow represents net cash provided by operating activities ($115 million) less capital expenditures ($16 million).

Company Earnings Conference Call

8:00 AM eastern time March 31 http://investors.sensata.com

http://investors.sensata.com

About Sensata Technologies Holding N.V.

www.sensata.com

Safe Harbor Statement

www.sec.gov

SENSATA TECHNOLOGIES HOLDING N.V.

Condensed Consolidated Statements of Comprehensive Income/(Loss)                         

(Unaudited)

(In 000s, except per share amounts)

For the three months ended



Net Revenue

$492,008

$444,229

Operating costs and expenses:

Cost of revenue

325,248

277,245

Research and development

13,294

8,767

Selling, general and administrative

38,579

44,444

Amortization of intangible assets & capitalized software

36,126

34,252

Restructuring

563

647

Total operating costs and expenses

413,810

365,355

Profit from operations

78,198

78,874

Interest expense

(25,215)

(23,113)

Interest income

241

253

Currency translation gain/(loss) and other, net

4,173

(40,644)

Income before taxes

57,397

15,370

Provision for income taxes

18,481

24,895

Net income/(loss)

$38,916

$(9,525)

Comprehensive income/(loss)

$38,881

$(7,717)

Net income/(loss) per share:

Basic

$0.22

$(0.05)

Diluted

$0.21

$(0.05)

Weighted-average ordinary shares outstanding:

Basic

176,766

173,943

Diluted

181,505

173,943

 



(Unaudited)

($ in 000s)



Assets

Current assets:

     Cash and cash equivalents

$193,106

$92,127

     Accounts receivable, net of allowances

290,557

261,425

     Inventories

200,460

197,542

     Deferred income tax assets

10,065

9,989

     Prepaid expenses and other current assets

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