Allison Transmission Holdings Inc. (ALSN) said that it expects net sales for the first quarter of 2013 to be in the range of $455 million to $460 million and Adjusted EBITDA excluding technology-related license expenses, a non-GAAP financial measure, to be in the range of $144 million to $149 million, implying an Adjusted EBITDA margin excluding technology-related license expenses, a non-GAAP financial measure, of approximately 32%.
On average, 7 analysts polled by Thomson Reuters expect the company to report revenues of $471.57 million for the first-quarter. Analysts' estimates typically exclude special items.
Looking ahead for fiscal 2013, the company continues to expect net sales to decline in the range of 6 to 8 percent, Adjusted EBITDA margin excluding technology-related license expenses in the range of 32 to 34 percent, Adjusted Free Cash Flow, a non-GAAP financial measure, in the range of $325 to $375 million, capital expenditures in the range of $80 to $90 million and cash income taxes in the range of $15 million to $20 million. Eleven analysts have consensus revenue estimate of $2.02 billion for fiscal 2013.
The company noted that consistent with its previous guidance, it expects low levels of demand in the North America energy sector's hydraulic fracturing market, reductions in U.S. defense spending to longer term averages experienced during periods without active conflicts and lower demand in the North America Hybrid-Propulsion Systems for Transit Bus end market due to municipal spending constraints to lead to net sales reductions in these end markets.
The company also expects that the majority of the full year 2013 net sales reduction implied by the midpoint of our guidance will have occurred in the first quarter, followed by growth in the Global On-Highway end markets for the balance of the year.
The company announced that its Board approved an increase in its quarterly cash dividend from $0.06 to $0.12 per share on the company's common stock and non-voting common stock. Payment will be made on May 31, 2013, to stockholders of record at the close of business on May 17, 2013.
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