PLYMOUTH, Mich., Sept. 1 /PRNewswire/ -- Simpson Industries, Inc.
(Nasdaq: SMPS) today reported that a larger than anticipated drop in heavy-
duty volumes, further weakening of the Euro and increased product launch
activities will have an unfavorable impact on the company's earnings.
These factors are expected to reduce earnings by approximately $0.10 to
$0.12 per share in the second half of 2000. Full year 2000 diluted earnings
per share are now projected in the range of $1.03 to $1.05.
Simpson Industries supplies powertrain and chassis products to original
equipment manufacturers in the worldwide automotive and medium and heavy duty
diesel engine markets. Simpson's products are focused in three groups:
noise, vibration and harshness, wheel-end and suspension, and modular engine
assemblies. Simpson's manufacturing units are located in the United States,
Canada, Mexico, Brazil, England, India, France, Spain and South Korea.
Information about Simpson is available on the Internet at
http://www.simpsonind.com .
Certain statements in this press release may be "forward-looking
statements" under the Securities Exchange Act of 1934. Statements regarding
future operating performance, new programs expected to be launched and other
future prospects and developments are based on current expectations and
involve certain risks and uncertainties that could cause the actual results
and developments to differ materially from the forward-looking statements.
Potential risks and uncertainties include such factors as demand for the
Company's products, pricing and other actions taken by the Company.
To receive a copy of this and other Simpson press releases by fax, please
call Company News-On-Call at 800-758-5804 -- extension 107165, or you can
access the information via the Internet at http://www.prnewswire.com
SOURCE Simpson Industries, Inc.
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Related links:
http://www.simpsonind.com
Company News On-Call:
http://www.prnewswire.com/comp/107165.html or fax,
800-758-5804, ext. 107165
CONTACT:
Vinod Khilnani, Vice President & Chief
Financial Officer of Simpson Industries, Inc., 734-207-6200
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