Exhibit 99.1

 

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Allison Transmission Announces Fourth Quarter and Full Year 2016 Results

Fourth Quarter 2016:

 

    Net Sales $469 million, Net Income $61 million, Adjusted EBITDA $158 million, Net Cash Provided by Operating Activities $175 million, Adjusted Free Cash Flow $146 million

Full Year 2016:

 

    Net Sales $1,840 million, Net Income $215 million, Adjusted EBITDA $644 million, Net Cash Provided by Operating Activities $591 million, Adjusted Free Cash Flow $530 million

INDIANAPOLIS, February 6, 2017 – 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 $469 million, a 2 percent decrease from the same period in 2015. The decrease in net sales was principally driven by lower demand in the North America On-Highway and Global Off-Highway end markets partially offset by higher demand in the Outside North America On-Highway, Defense and Service Parts, Support Equipment & Other end markets.

Net Income for the quarter was $61 million compared to $13 million for the same period in 2015. Adjusted EBITDA, a non-GAAP financial measure, for the quarter was $158 million, or 33.8 percent of net sales, compared to $170 million, or 35.6 percent of net sales, for the same period in 2015. Net Cash Provided by Operating Activities for the quarter was $175 million compared to $175 million for the same period in 2015. Adjusted Free Cash Flow, a non-GAAP financial measure, for the quarter was $146 million compared to $147 million for the same period in 2015.

Lawrence E. Dewey, Chairman and Chief Executive Officer of Allison Transmission commented, “Allison’s fourth quarter 2016 results exceeded the full year guidance ranges we provided to the market on October 24 principally due to stronger than anticipated demand conditions in North America Off-Highway service parts and Global On-Highway products. Allison demonstrated solid operating margins and free cash flow while executing its well-defined approach to capital structure and allocation. During the fourth quarter, we settled $87 million of share repurchases and paid a dividend of $0.15 per share.”

Fourth Quarter Net Sales by End Market

 

End Market

   Q4 2016
Net Sales
($M)
     Q4 2015
Net Sales
($M)
     % Variance  

North America On-Highway

     217         252         (14 %) 

North America Hybrid-Propulsion Systems for Transit Bus

     20         23         (13 %) 

North America Off-Highway

     0         11         (100 %) 

Defense

     37         25         48

Outside North America On-Highway

     83         65         28

Outside North America Off-Highway

     4         7         (43 %) 

Service Parts, Support Equipment & Other

     108         95         14

Total Net Sales

     469         478         (2 %) 

 

1


The following information was filed by Allison Transmission Holdings Inc (ALSN) on Monday, February 6, 2017 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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