Exhibit 99.1

 

LOGO News Release

Allison Transmission Announces Fourth Quarter and Full Year 2014 Results

Fourth Quarter 2014:

 

    Net Sales $544 million, Adjusted Net Income $117 million, Adjusted EBITDA excluding technology-related license expenses $188 million, Adjusted Free Cash Flow $129 million or $0.71 per Diluted Share

Full Year 2014:

 

    Net Sales $2,127 million, Adjusted Net Income $479 million, Adjusted EBITDA excluding technology-related license expenses $745 million, Adjusted Free Cash Flow $524 million or $2.87 per Diluted Share

INDIANAPOLIS, February 9, 2015 – Allison Transmission Holdings Inc. (NYSE: ALSN)

, the largest global provider of commercial duty fully-automatic transmissions, today reported net sales for the fourth quarter of $544 million, an 11 percent increase from the same period in 2013. The increase in net sales was principally driven by the continued recoveries in the North America On-Highway and Off-Highway end markets, and higher demand in the Service Parts, Support Equipment & Other end market, partially offset by lower demand in the Outside North America On-Highway and North America Hybrid-Propulsion Systems for Transit Bus end markets.

Adjusted Net Income, a non-GAAP financial measure, for the quarter was $117 million, compared to Adjusted Net Income of $78 million for the same period in 2013, an increase of $39 million. Adjusted EBITDA, a non-GAAP financial measure, for the quarter was $185 million, or 34.0 percent of net sales, compared to $153 million, or 31.1 percent of net sales, for the same period in 2013. Excluding $3 million of technology-related license expenses, Adjusted EBITDA for the fourth quarter of 2014 was $188 million, or 34.6 percent of net sales. Adjusted Free Cash Flow, a non-GAAP financial measure, for the quarter was $129 million, or $0.71 per diluted share, compared to $109 million for the same period in 2013, or $0.59 per diluted share.

Lawrence E. Dewey, Chairman, President and Chief Executive Officer of Allison Transmission commented, “Our fourth quarter 2014 results exceed the guidance ranges we provided to the market on October 27. Net sales improved on a year-over-year basis for the fifth consecutive quarter led by the continued recoveries in the North America On-Highway and Off-Highway end markets, and higher demand in the Service Parts, Support Equipment & Other end market, partially offset by lower demand in the Outside North America On-Highway and North America Hybrid-Propulsion Systems for Transit Bus end markets. Allison continued to demonstrate strong operating margins and free cash flow while investing in growth opportunities despite challenging conditions in the Outside North America end markets. During the quarter, highlighting our commitments to cash flow generation and the return of capital to shareholders, Allison’s Board of Directors authorized a stock repurchase program for up to $500 million of its common stock and approved an increase in its quarterly cash dividend from $0.12 to $0.15 per share. In addition, we maintained our prudent approach to capital allocation by repaying $69 million of debt during the quarter. Given the heightened level of uncertainty and the lack of near-term visibility and confidence in the global Off-Highway end markets, we are taking a cautious approach to 2015.”

 

1


The following information was filed by Allison Transmission Holdings Inc (ALSN) on Monday, February 9, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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