Douglas Dynamics, Inc. Provides Preliminary Financial Guidance for the Fourth Quarter Ended December 31, 2012 and Revised Financial Guidance for the Full Year Ended December 31, 2012
January 08, 2013
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Douglas Dynamics, Inc. provided preliminary financial guidance for the fourth quarter ended December 31, 2012 and revised financial guidance for the full year ended December 31, 2012. For the fourth quarter ended December 31, 2012, the company expects net sales are expected to be approximately $28 million, diluted loss per share are expected to be a loss of approximately $0.04 to $0.06 per share and adjusted EBITDA is expected to be approximately $4 million.
The company expects that its full-year 2012 revenue, earnings before interest, taxes, non-cash and other items (‘Adjusted EBITDA') and diluted earnings per share will be lower than previously anticipated. Revenue for 2012 is expected to be approximately $140 million. Prior revenue guidance for the year was $160 million to $190 million. Adjusted EBITDA for the full year is expected to be approximately $30 million. Prior financial guidance for the year indicated adjusted EBITDA in the range of $35 to $45 million. Diluted earnings per share for full-year 2012 are expected to be approximately $0.25 to $0.27 per share pending final effective tax rate calculations. Prior financial guidance for the year was $0.55 to $0.79. The company estimates that it generated free cash flow of approximately $14 million in 2012. Net income is to be in the range of $5.8 to $6.3 million, net interest expense is to be of $8.4 million, depreciation expense is to be of $2.8 million and amortization expense is to be of $5.2 million and EBITDA is to be in the range of $26.0 million to $27.1 million.
Douglas Dynamics, Inc. is a manufacturer and upfitter of commercial work truck attachments and equipment. The Company operates through two segments: Work Truck Attachments and Work Truck Solutions. The Work Truck Attachments segment is engaged in manufacturing and selling snow and ice control attachments and other products sold under the FISHER, SNOWEX and WESTERN brands, as well as its vertically integrated products. It offers a range of product lines of snowplows and sand and salt spreaders for light trucks. The Work Truck Solutions segment is engaged in manufacturing municipal snow and ice control products under the HENDERSON brand and the upfit of attachments and storage solutions under the HENDERSON brand, and the DEJANA brand and its related sub-brands. Work Truck Solutions products consist of truck and vehicle upfits where it attaches component pieces of equipment, truck bodies, racking, and storage solutions, and which are typically used by end-users for work related purposes.
Douglas Dynamics, Inc. Provides Preliminary Financial Guidance for the Fourth Quarter Ended December 31, 2012 and Revised Financial Guidance for the Full Year Ended December 31, 2012
DOUGLAS DYNAMICS, INC. 
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