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As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

allison transmission holding (ALSN) Key Developments

Allison Transmission Holdings, Inc. Announces Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2014; Reaffirms Earnings Guidance for 2014; Provides Sales Guidance for the Second Quarter of 2014

Allison Transmission Holdings, Inc. announced consolidated unaudited earnings results for the first quarter ended March 31, 2014. Net sales for the quarter were $494 million, an 8% increase from the same period in 2013. Adjusted net income for the quarter was $108 million, compared to adjusted net income of $80 million for the same period in 2013, an increase of $28 million. The increase was principally driven by increased Adjusted EBITDA. Diluted earnings per share for the quarter were $0.28 against $0.15 per share a year ago. The increase in Net Sales were principally driven by the continued recovery in the North America On-Highway end market, its largest, and higher demand in the Service Parts, Support Equipment & Other end market partially offset by previously contemplated reductions in U.S. defense spending. Adjusted EBITDA was $166 million, or 33.6% of net sales, compared to $141 million, or 30.8% of net sales, for the same period in 2013. The increase in Adjusted EBITDA from the same period in 2013 was principally driven by increased net sales and a $3 million reduction in technology-related license expenses. Income before income taxes was $79.3 million against $44.4 million a year ago. Operating income was $114.8 million against $81.4 million a year ago. Net income was $52.1 million against $27.5 million a year ago. Net cash provided by operating activities was $98.6 million against $54.7 million a year ago. Adjusted free cash flow for the quarter was $91 million compared to $48 million for the same period in 2013. The increase was principally driven by increased net cash provided by operating activities, decreased capital expenditures and a $3 million reduction in technology-related license expenses. Capex was $11 million against $13 million a year ago. The decrease in capital expenditures was principally driven by lower product initiatives spending partially offset by increased investments in productivity and replacement programs. The company affirmed its full year 2014 guidance. Net sales increase in the range of 3% to 6%, an adjusted EBITDA margin excluding technology-related license expenses in the range of 32% to 34%, an adjusted free cash flow in the range of $375 to $425 million, capital expenditures in the range of $60 to $70 million and cash income taxes in the range of $10 to $15 million. For the second quarter of 2014, the company expects net sales to be higher than the same period in 2013. The anticipated year-over-year increase in second quarter net sales is expected to be principally driven by higher demand in the North America On-Highway, North America Off-Highway and Service Parts, Support Equipment & Other end markets partially offset by previously considered reductions in Defense net sales.

Allison Transmission Holdings, Inc., Q1 2014 Earnings Call, Apr 17, 2014

Allison Transmission Holdings, Inc., Q1 2014 Earnings Call, Apr 17, 2014

Allison Transmission Holdings, Inc. to Report Q1, 2014 Results on Apr 17, 2014

Allison Transmission Holdings, Inc. announced that they will report Q1, 2014 results on Apr 17, 2014

Allison Transmission Holdings, Inc. Announces its Intention to Reprice One of the Term Loan Tranches Under its Senior Secured Credit Facility

On April 1, 2014, Allison Transmission Holdings, Inc. announced its intention to reprice one of the term loan tranches under its Senior Secured Credit facility in a principal amount of approximately $423.5 million due in 2017.

Allison Transmission Holdings Inc. Introduces New Fuel-Efficiency Package

Allison Transmission Holdings Inc. announced the launch of a new fuel-efficiency package that can deliver up to 20% fuel savings at the NTEA 'Work Truck' conference in Indianapolis. FuelSense features automatically adapt shift schedules and torque, maximizing transmission efficiency based on load, grade and duty cycle, without sacrificing Allison advantages fleets already depend on -- superior performance and Continuous Power Technology. FuelSense features include 5th Generation smart controls, acceleration management, and a precision inclinometer, EcoCal shift technology to keep engine speed at the most efficient level, Dynamic Shift Sensing to automatically sense when low-engine speed shifts can be made, Neutral at Stop to save fuel and reduce emissions when the vehicle is stationary. Cutting fuel consumption by up to 20% during both testing and simulations, FuelSense features have already been integrated into Allison's TC10 for tractors.

 

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