Tecumseh Products Company Announces Preliminary First Quarter Results

Apr 04, 2001, 01:00 ET from Tecumseh Products Company

    TECUMSEH, Mich., April 4 /PRNewswire/ -- Tecumseh Products Company
 (Nasdaq:   TECUA, TECUB) today announced that it expects its earnings per share
 for the first quarter ending March 31, 2001 to be in a range from $0.68 to
 $0.73.  The Company had initially expected first quarter earnings to fall
 within the range of $.90 to $.95 per share.  The lowered first quarter
 expectations are the result of significantly lower first quarter sales and
 earnings of the Company's Engine & Power Train Group which has experienced
 significant delays of shipments against orders from its lawn and garden
 customers.  It is expected that shipments in April will remain at low levels.
 In order to control inventory levels, the Company plans to substantially
 curtail its U.S. engine production for at least one week in April, 2001.
     In the first quarter of 2000, the Company reported consolidated sales of
 $476 million and earnings per share of $0.46, after restructuring charges of
 $1.18 per share, net of taxes.
     Tecumseh Products Company will host a conference call to report on first
 quarter results on Tuesday, April 24 at 11 a.m. ET.  The call will be
 broadcast live over the Internet and then available for replay through
 Tecumseh Products Company's website at www.tecumseh.com .
     This release contains forward-looking statements within the meaning of the
 "Private Securities Litigation Reform Act of 1995" and are subject to the safe
 harbor provisions created by that Act.  Actual results may differ materially
 from those projected as a result of certain risks and uncertainties inherent
 in business forecasts as more fully described in the Company's Annual Report
 on Form 10-K.
     Tecumseh Products Company is a full-line independent global manufacturer
 of hermetic compressors for air conditioning and refrigeration products,
 gasoline engines and power train products for lawn and garden applications,
 and a diversified line of pumps for the retail and commercial consumer.
 
 

SOURCE Tecumseh Products Company
    TECUMSEH, Mich., April 4 /PRNewswire/ -- Tecumseh Products Company
 (Nasdaq:   TECUA, TECUB) today announced that it expects its earnings per share
 for the first quarter ending March 31, 2001 to be in a range from $0.68 to
 $0.73.  The Company had initially expected first quarter earnings to fall
 within the range of $.90 to $.95 per share.  The lowered first quarter
 expectations are the result of significantly lower first quarter sales and
 earnings of the Company's Engine & Power Train Group which has experienced
 significant delays of shipments against orders from its lawn and garden
 customers.  It is expected that shipments in April will remain at low levels.
 In order to control inventory levels, the Company plans to substantially
 curtail its U.S. engine production for at least one week in April, 2001.
     In the first quarter of 2000, the Company reported consolidated sales of
 $476 million and earnings per share of $0.46, after restructuring charges of
 $1.18 per share, net of taxes.
     Tecumseh Products Company will host a conference call to report on first
 quarter results on Tuesday, April 24 at 11 a.m. ET.  The call will be
 broadcast live over the Internet and then available for replay through
 Tecumseh Products Company's website at www.tecumseh.com .
     This release contains forward-looking statements within the meaning of the
 "Private Securities Litigation Reform Act of 1995" and are subject to the safe
 harbor provisions created by that Act.  Actual results may differ materially
 from those projected as a result of certain risks and uncertainties inherent
 in business forecasts as more fully described in the Company's Annual Report
 on Form 10-K.
     Tecumseh Products Company is a full-line independent global manufacturer
 of hermetic compressors for air conditioning and refrigeration products,
 gasoline engines and power train products for lawn and garden applications,
 and a diversified line of pumps for the retail and commercial consumer.
 
 SOURCE  Tecumseh Products Company

RELATED LINKS

http://www.tecumseh.com