Hayes Lemmerz Increases Adjusted EBITDA Guidance for 2008
On September 4 Hayes Lemmerz International announced it is increasing its fiscal 2008 Adjusted EBITDA guidance as it reported substantially improved Adjusted EBITDA, core operating earnings and liquidity for the second fiscal quarter ended July 31, 2008.
“We are increasing the Company’s Adjusted EBITDA guidance for fiscal 2008 to $225 million to $240 million, up $20 million from prior guidance of $205 million to $220 million,” said Curtis J. Clawson, president, CEO and chairman of the Board. “Capital expenditures have been reduced for the year and are now expected to be between $90 million to $100 million, down $5 million from prior guidance of $95 million to $105 million. We are also affirming the Company’s sales guidance of $2.1 billion to $2.3 billion for fiscal 2008.”