Southfield, Mich., USA (ots-PRNewswire) - Lear Corporation (NYSE:
LEA) today reported that the further weakening of the euro and a
stronger than anticipated Mexican peso, as well as the previously
announced Ford Explorer and Ranger production cuts, will have an
adverse impact on the company's earnings.
These items are expected to reduce earnings by approximately $0.18
per share in the second half of 2000. Lear believes that there is
limited potential for more favorable exchange rates and recovery of
lost units before year-end.
Lear Corporation, a Fortune 150 company headquartered in
Southfield, Mich., USA, focuses on automotive interiors and
electronics and is the world's fifth-largest automotive supplier.
Sales in 1999 were $12.4 billion. The company's world-class products
are designed, engineered and manufactured by more than 120,000
employees in over 300 facilities located in 33 countries. Information
about Lear and its products is available on the Internet at
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from the anticipated results as
a result of certain risks and uncertainties, including but not
limited to general economic conditions in the markets in which Lear
operates, fluctuations in the production of vehicles for which the
Company is a supplier, labor disputes involving the Company or its
significant customers, risks associated with conducting business in
foreign countries and other risks detailed from time to time in the
Company's Securities and Exchange Commission filings.
ots Original Text Service: Lear Corporation
Contact: Derek Fiebig, Director - Investor Relations, (USA)
248-447-1624, or Andrea Puchalsky, Director - Corporate
Communications, (USA) 248-447-1651, both of Lear Corporation
Company News On-Call: http://www.prnewswire.com/comp/518304.html
fax, (USA) 800-758-5804, ext. 518304
Web site: http://www.lear.com
Original-Content von: Lear Corporation, übermittelt durch news aktuell