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Allison Transmission Holdings Inc (ALSN) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Allison Transmission Holdings Inc

CIK: 1411207 Ticker: ALSN

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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Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Stockholders' Equity
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (tables)
Amounts In Accumulated Other Comprehensive Loss Aocl Expected To Be Amortized And Recognized As Component Of Net Periodic Benefit Cost In 2017 (detail)
Amounts Recognized In Balance Sheet And Accumulated Other Comprehensive Income Aoci (detail)
Assumptions Used To Calculate Fair Value Of Options (detail)
Assumptions Used To Calculate Fair Value Of Performance Award Based (detail)
Certain Relationships And Related Party Transactions
Certain Relationships And Related Party Transactions - Additional Information (detail)
Changes In Components Of Accumulated Other Comprehensive Loss (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Common Stock
Common Stock - Additional Information (detail)
Company's Derivative Instruments And Their Impact On Financial Condition Of Company (detail)
Components Of Inventories (detail)
Concentration Of Risk
Concentration Of Risk (tables)
Concentration Of Risk - Additional Information (detail)
Consolidated Statement Of Comprehensive Income Affected By Reclassification From Aocl (detail)
Cost And Accumulated Depreciation Of Property Plant And Equipment (detail)
Customers Accounted For Greater Than Ten Percent Of Accounts Receivable (detail)
Customers Accounted For Greater Than Ten Percent Of Net Sales (detail)
Debt
Debt (tables)
Debt - Additional Information (detail)
Deferred Revenue
Deferred Revenue (tables)
Deferred Revenue - Additional Information (detail)
Deferred Revenue For Etc Activity (detail)
Deferred Tax Assets And Liabilities (detail)
Derivatives
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Derivatives - Additional Information (detail)
Earnings Per Share
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Earnings Per Share - Additional Information (detail)
Employee Benefit Plans
Employee Benefit Plans (detail)
Employee Benefit Plans (tables)
Employee Benefit Plans - Additional Information (detail)
Expected Amortization Expense Related To Other Intangible Assets (detail)
Expected Cash Flows For Pension And Post-retirement Benefit Plans (detail)
Fair Value Of Financial Assets And Liabilities (detail)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (tables)
Fair Value Of Plan Assets By Asset Category (detail)
Future Payments Under Non-cancelable Operating Leases (detail)
Geographic Information
Geographic Information (tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (tables)
Goodwill And Other Intangible Assets - Additional Information (detail)
Health Care Costs Trends (detail)
Impact On The Company's Results Of Operations Related To Unrealized Gain (loss) On Interest Rate Derivatives (detail)
Income Before Income Taxes (detail)
Income Taxes
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Income Taxes - Additional Information (detail)
Inventories
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Liability For Unrecognized Tax Benefit (detail)
Long Term Debt And Maturities (detail)
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Net Long-lived Assets By Country (detail)
Net Sales By Country (detail)
Non-vested Shares Activity (detail)
Option Activity (detail)
Other Current Liabilities
Other Current Liabilities (detail)
Other Current Liabilities (tables)
Other Income (expense), Net
Other Income (expense), Net (detail)
Other Income (expense), Net (tables)
Overview
Overview - Additional Information (detail)
Plan Asset Allocation (detail)
Principal Payments Required On Long Term Debt (detail)
Product Warranty Liabilities
Product Warranty Liabilities (tables)
Product Warranty Liabilities - Additional Information (detail)
Product Warranty Liability Activities (detail)
Projected And Accumulated Benefit Obligation And Fair Value Of Plan Assets For Pension Plans With Projected Benefit Obligation In Excess Of Plan Assets (detail)
Property Plant And Equipment - Additional Information (detail)
Property Plant And Equipment Estimated Lives (detail)
Property, Plant And Equipment
Property, Plant And Equipment (tables)
Provision For Income Tax Expense (detail)
Quarterly Financial Information
Quarterly Financial Information (detail)
Quarterly Financial Information (tables)
Quarterly Financial Information - Additional Information (detail)
Reconciliation Of Changes In Net Benefit Obligations And Fair Value Of Plan Assets (detail)
Reconciliation Of Numerators And Denominators Used To Calculate Basic Eps And Diluted Eps (detail)
Reconciliation Of Provision For Income Tax Expense (detail)
Schedule I Parent Company Only Balance Sheets (detail)
Schedule I Parent Company Only Statements Of Cash Flows (detail)
Schedule I Parent Company Only Statements Of Comprehensive Income (detail)
Schedule I-parent Company Only Balance Sheets
Stock-based Compensation
Stock-based Compensation (tables)
Stock-based Compensation - Additional Information (detail)
Subsequent Event
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Summary Of Company's Interest Rate Derivatives (detail)
Summary Of Company's Interest Rate Derivatives (parenthetical) (detail)
Summary Of Goodwill And Other Intangible Assets (detail)
Summary Of Outstanding Commodity Swaps (detail)
Summary Of Performance Award Activity (detail)
Summary Of Restricted Stock Activity (detail)
Summary Of Rsu Activity (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Additional Information (detail)
Supplier Accounted For Greater Than Ten Percent Of Materials Purchased (detail)
Weighted-average Actuarial Assumptions Used To Determine Benefit Obligations (detail)
Weighted-average Actuarial Assumptions Used To Determine Net Periodic Benefit Cost (detail)
Ticker: ALSN
CIK: 1411207
Form Type: 10-K Annual Report
Accession Number: 0001193125-17-056079
Submitted to the SEC: Fri Feb 24 2017 2:43:33 PM EST
Accepted by the SEC: Fri Feb 24 2017
Period: Saturday, December 31, 2016
Industry: Motor Vehicle Parts And Accessories

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