Sauer-Danfoss Inc.
Sauer-Danfoss Inc. english
SAUER-DANFOSS updates earnings guidance for the third Quarter 2002
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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SAUER-DANFOSS updates earnings guidance for the third Quarter 2002
Neumünster, October 14, 2002. Sauer-Danfoss Inc. expects the earnings of the
third quarter 2002 to be lower than estimated. The company expects to report a
third quarter 2002 loss per share in the range of $0.01 to $0.03, compared to
the consensus estimate of $0.06 earnings per share. The full year earnings per
share are expected to be in the range of $0.30 to $0.40 per share, compared to
previous earnings guidance of $0.40 to $0.55 per share for 2002.
The lowered expectations are primarily driven by the fact that both major
markets, in Europe and in the U.S., continue to remain weak. The indication of
an improvement, which the company was seeing just a few months ago, was short
lived. In addition, the third quarter results were impacted by two large
warranty claims, which in total had a one-time pre-tax impact of approximately
$1.8 million. Sauer-Danfoss continues its efforts to reduce fixed costs and
capital expenditures, allowing the company to generate strong cash flow.
The full third quarter results 2002 are expected to be published on October 30,
2002.
All statements regarding future performance, growth, sales and earnings
projections, conditions or developments are forward-looking statements. These
statements are based on current financial and economic conditions and rely
heavily on the Company’s interpretations of what it considers key economic
assumptions.
end of ad-hoc-announcement (c)DGAP 14.10.2002
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Further Information: Sauer-Danfoss Inc. Investor Relations
John N. Langrick, Director of Finance Europe, Sauer-Danfoss Inc., Tel.: 04321-
871-190, Fax: 04321-871-121, Krokamp 35, D-24539 Neumünster, jlangrick@sauer-
danfoss.com
Andrea Wittmann, Manager Communications, Sauer-Danfoss Inc., Tel.: 04321-871-
212, Fax: 04321-990-316, Krokamp 35, D-24539 Neumünster, awittmann@sauer-
danfoss.com
Grit Muschelknautz, Public Relations, Hoschke & Consorten, Tel.: 040-369050-41,
Fax: 040-369050-10, Deichstr. 29, D-20459 Hamburg, g.muschelknautz@hoschke.de
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WKN: 880208; ISIN: US8041371076; Index:
Listed: Amtlicher Markt in Frankfurt (SMAX); Freiverkehr in Berlin, Düsseldorf,
Hamburg, München, Stuttgart
142258 Okt 02
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