Hayes Lemmerz Reports Estimated Q1 Results

On May 15 Hayes Lemmerz International, Inc., global supplier of wheels, brakes and powertrain components, announced their estimated results for the first quarter of 2007 and issued updated guidance for the 2007 full fiscal year. The estimated results are unaudited, have not been reviewed by the company’s independent auditors, and are subject to adjustment during the course of preparation and review of the Hayes Lemmerz quarterly financial statements.

For the fiscal year first quarter 2007 Hayes Lemmerz expects to achieve sales of approximately US$560 to $565 million, Adjusted EBITDA of approximately $54 to $58 million, slightly negative free cash flow and capital expenditures of approximately $16 million.

The Company also announced it is updating its earnings guidance for the entire 2007 fiscal year that it issued on April 4, 2007. The Company expects revenue of approximately $2.2 billion for the full fiscal year ending January 31, 2008, slightly higher than previously quoted figure of $2.1 billion. Adjusted EBITDA is expected to be in the area of $200 to $210 million, up from the previous guidance of $195 to $205 million. Capital expenditures for the year are expected to be approximately $90 to $95 million, slightly higher than previous guidance of $85 to $90 million.

Hayes Lemmerz will host a telephone conference call to discuss the company’s first quarter financial results on Thursday June 7.