WABCO Holdings Inc. (WBC) reported fourth-quarter net income attributable to the company of $59.7 million or $0.93 per share compared to $69.8 million or $1.04 per share a year ago. Performance net income attributable to the company was $69.6 million or $1.08 per share compared to $80.7 million or $1.21 per share a year ago. Sales were $596.5 million, down 7.9 percent in local currencies and down 11.2 percent in U.S. dollars from a year ago.
WABCO said markets across all regions continued to be uncertain and unstable as global truck and bus production in the fourth quarter declined 12 percent year on year.
On average, ten analysts polled by Thomson Reuters expected the company to report profit of $0.94 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $585.52 million for the quarter.
WABCO expects 2013 sales growth to range between 2 and 7 percent in local currencies. Profit per share on a performance basis is expected to range from $4.30 to $4.80. The company expects 2013 earnings per share to range from $7.26 to $7.76. Analysts expect the company to report 2013 profit per share of $4.73 on revenue of $2.53 billion.
by RTT Staff Writer
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