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Last10K.com | 10-K Annual Report Fri Feb 15 2013
Exhibit 99.1
WABCO Reports Q4 and Full Year 2012 Results; Delivers Full Year Record Performance Operating Margin Amid Downturn in Key Markets; Provides Guidance for 2013
| • | Q4 2012 sales of $596.5 million, down 7.9 percent in local currencies and down 11.2 percent in U.S. dollars from a year ago |
| • | Full year 2012 sales of $2,477.4 million, down 4.8 percent in local currencies and down 11.3 percent in U.S. dollars from a year ago |
| • | Q4 2012 operating margin of 12.6 percent on a performance basis, down from 13.5 percent a year ago; operating margin of 11.6 percent on a U.S. GAAP basis, down from 13.5 percent a year ago |
| • | Full year 2012 operating margin of 13.5 percent on a performance basis, up from 13.4 percent a year ago; operating margin of 13.1 percent on a U.S. GAAP basis, down from 13.2 percent a year ago |
| • | Q4 2012 diluted EPS of $1.08 on a performance basis, down from $1.21 a year ago; diluted EPS of $0.93 on a U.S. GAAP basis, down from $1.04 a year ago |
| • | Full year 2012 diluted EPS of $4.46 on a performance basis, down from $4.73 a year ago; diluted EPS of $4.62 on a U.S. GAAP basis, down from $5.19 a year ago |
| • | Full year 2012, WABCO generated $358.3 million in net cash from operating activities and $274.3 million of free cash flow, excluding payments of $16.5 million for streamlining and separation activities. This results in a conversion rate of 94 percent of performance net income attributable to the company |
| • | Provides guidance for full year 2013 sales growth to range between 2 percent and 7 percent in local currencies, full year 2013 diluted EPS on a performance basis to range from $4.30 to $4.80 and full year 2013 diluted EPS on a U.S. GAAP basis to range from $7.26 to $7.76 |
BRUSSELS, Belgium, February 15, 2013 – WABCO Holdings Inc. (NYSE: WBC), a global technology leader and tier-one supplier to the commercial vehicle industry, today reported Q4 and full year 2012 results.
WABCO reported Q4 2012 sales of $596.5 million, down 7.9 percent in local currencies from a year ago and down 11.2 percent in U.S. dollars.
“As previously stated, markets across all regions continued to be uncertain and unstable as global truck and bus production in Q4 2012 declined 12 percent year on year,” said Jacques Esculier, WABCO Chairman and Chief Executive Officer.
“Western Europe, our largest market, continued its downturn as new truck and bus builds declined 15 percent versus a year ago. We also faced an accelerated downturn in India during this quarter as local truck and bus production contracted 26 percent year on year. However, WABCO still managed to outperform the global market in Q4 2012, including a superb performance in aftermarket sales, which grew by 9 percent compared to a year ago,” said Esculier.
The following information was filed by Wabco Holdings Inc. (WBC) on Friday, February 15, 2013 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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Wabco Holdings Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2013 10-K Annual Report includes:
- Voting Procedures
- Board Members
- Executive Team
- Salaries, Bonuses, Perks
- Peers / Competitors
SEC Filing Tools
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Comprehensive Income
Consolidated Statement Of Comprehensive Income (parentheticals)
Consolidated Statement Of Shareholders' Equity And Comprehensive Income / (loss)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Accounts Receivable Securitization Program & Financing Receivables
Accounts Receivable Securitization Program & Financing Receivables (details)
Business Combinations
Business Combinations (details)
Capital Stock
Capital Stock (narrative) (details)
Capital Stock (schedule Of Net Shares Outstanding And Shares Issued Or Reacquired) (details)
Capital Stock (tables)
Debt
Debt (details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (details)
Description Of Company
Description Of Company (details)
Facilities
Facilities (details)
Facilities (tables)
Geographic Information
Geographic Information (details)
Geographic Information (tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (changes In Carrying Amount Of Goodwill) (details)
Goodwill And Intangible Assets (changes In Carrying Value Of Intangible Assets) (details)
Goodwill And Intangible Assets (tables)
Income Taxes
Income Taxes (gross Deferred Tax Liabilities And Assets) (details)
Income Taxes (income Before Income Taxes And Applicable Provision For Income Taxes) (details)
Income Taxes (reconciliation Of Actual Income Tax Expense To Statutory Federal Rate) (details)
Income Taxes (reconciliation Of Unrecognized Tax Benefits) (details)
Income Taxes (tables)
Inventories
Inventories (details)
Inventories (tables)
Other Operating And Non-operating Expense / (income), Net
Other Operating And Non-operating Expense / (income), Net (details)
Other Operating And Non-operating Expense / (income), Net (tables)
Post-retirement Benefits
Post-retirement Benefits (allocation And Fair Value Of Plan Assets) (details)
Post-retirement Benefits (assumptions Used In Determining The Benefit Obligation And Net Cost For Post-retirement Plans) (details)
Post-retirement Benefits (expected Future Benefit Payments) (details)
Post-retirement Benefits (health Care Cost Trend Rate Assumption) (details)
Post-retirement Benefits (pension Plans With Accumulated Benefit Obligations In Excess Of Assets) (details)
Post-retirement Benefits (reconciliation Of Benefit Obligation And Fair Value Of Plan Assets) (details)
Post-retirement Benefits (tables)
Post-retirement Benefits (total Post-retirement Costs) (details)
Quarterly Data (unaudited)
Quarterly Data (unaudited) (details)
Quarterly Data (unaudited) (tables)
Recently Issued Accounting Standards
Related Party Transactions
Related Party Transactions (details)
Related Party Transactions (tables)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (details)
Stock-based Compensation
Stock-based Compensation (narrative) (details)
Stock-based Compensation (tables)
Stock-based Compensation (total Stock-based Compensation Cost And Total Number And Type Of Awards Granted And Related-weighted Average Grant-date Fair Values) (details)
Stock-based Compensation (weighted Average Grant Date Fair Value Calculated Under Black-scholes Option-pricing Model) (details)
Streamlining Expenses
Streamlining Expenses (narrative) (details)
Streamlining Expenses (schedule Of Current And Cumulative Streamlining Costs) (details)
Streamlining Expenses (schedule Of Streamlining Expenses) (details)
Streamlining Expenses (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (narrative) (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share) (details)
Summary Of Significant Accounting Policies (tables)
Tax And Indemnification Liabilities Transferred From Trane To Wabco
Tax And Indemnification Liabilities Transferred From Trane To Wabco (details)
Warranties, Guarantees, Commitments And Contingencies
Warranties, Guarantees, Commitments And Contingencies (narrative) (details)
Warranties, Guarantees, Commitments And Contingencies (summary Of Changes In The Company's Product Warranty Liability) (details)
Warranties, Guarantees, Commitments And Contingencies (tables)
Material Contracts, Statements, Certifications & more
Wabco Holdings Inc. provided additional information to their SEC Filing as exhibits
Exhibit 3.2: Amended &Amp; Restated By-Laws Of Wabco Holdings Inc
Exhibit 10.18: Amendment No.4 To Change Of Control Severance Plan Effective November 30, 2012
Exhibit 10.31: Management Agreement J Esculier Effective 1 January 2012
Exhibit 10.32: Management Agreement N Varty Effective 1 January 2012
Exhibit 10.33: Management Agreement K Tarrant Effective 1 January 2012
Exhibit 10.34: Management Agreement U Michel Effective 1 January 2012
Exhibit 10.35: Management Agreement J-C Figueroa Effective 1 January 2012
Exhibit 10.36: Letter From Wabco To N Varty November 12, 2012
Exhibit 10.37: First Amendment To N Varty Management Agreement Dated December 30, 2012
Exhibit 10.38: First Amendment To K Tarrant Management Agreement Dated December 30, 2012
Exhibit 10.39: First Amendment To Offer Letter Nvarty
Exhibit 21.1: Subsidiaries Of The Company
Exhibit 23.1: Consent Of Ernst &Amp; Young
Exhibit 24.1: Powers Of Attorney
Exhibit 31.1: Certification Of Ceo Section 302
Exhibit 31.2: Certification Of Cfo Section 302
Exhibit 32.1: Certification Of Ceo Section 906
Exhibit 32.2: Certification Of Cfo Section 906
Ticker: WBC
CIK: 1390844
Form Type: 10-K Annual Report
Accession Number: 0001390844-13-000005
Submitted to the SEC: Fri Feb 15 2013 7:06:27 AM EST
Accepted by the SEC: Fri Feb 15 2013
Period: Monday, December 31, 2012
Industry: Motor Vehicles And Passenger Car Bodies
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