WABCO Holdings Inc. (WBC) reported third quarter net income of $33.8 million or $0.52 per share, compared to $63.7 million or $0.97 per share a year ago.
Excluding items, performance net income for the quarter was $12.5 million or $0.19 per diluted share, compared to $61.3 million or $0.94 per diluted share a year earlier.
On average, 5 analysts polled by Thomson Reuters expected loss per share of $0.06 for the quarter. Analysts' estimate typically exclude special items.
Sales for the quarter fell 42% to $382 million from $655 million in the prior year. Four analysts estimated revenues of $321.08 million.
Looking ahead, WABCO improves its previously disclosed operating framework for 2009 to include an estimated decline in 2009 sales of 37% to 39% in local currencies, resulting in a full year reported operating margin of negative 1.9% or higher, including streamlining and separation items, and an operating margin of 2.0 percent or higher on a performance basis.
WABCO also expects that the company will generate more than $90 million in free cash flow for 2009, which excludes about $50 million of streamlining and separation items.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.