Tecumseh Products Company to Issue Future Earnings Releases in Conjunction With SEC Filings
22 February 2007 - 2:19AM
PR Newswire (US)
TECUMSEH, Mich., Feb. 21 /PRNewswire-FirstCall/ -- Tecumseh
Products Company (Nasdaq: TECUA; TECUB) announced today that it has
adopted a new financial reporting policy under which it will issue
quarterly earnings releases on or about the same day as the filing
of its quarterly and annual reports with the Securities and
Exchange Commission. Accordingly, its fourth quarter 2006 earnings
release and the related conference call, previously scheduled for
February 22, 2007, will be postponed until a date to be announced
later, which will be on or near the date it files its 2006 annual
report on Form 10-K. CAUTIONARY INFORMATION REGARDING
FORWARD-LOOKING STATEMENTS This release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 that are subject to the safe harbor provision
created by that Act. In addition, forward-looking statements may be
made orally in the future by or on behalf of the company.
Forward-looking statements can be identified by the use of terms
such as "expects," "should," "may," "believes," "anticipates,"
"will," and other future tense and forward-looking terminology.
Readers are cautioned that actual results may differ materially
from those projected as a result of certain risks and
uncertainties, including, but not limited to, i) changes in
business conditions and the economy in general in both foreign and
domestic markets; ii) the effect of terrorist activity and armed
conflict; iii) weather conditions affecting demand for air
conditioners, lawn and garden product, portable power generators
and snow throwers; iv) the success of our ongoing effort to bring
costs in line with projected production levels and product mix; v)
financial market changes, including fluctuations in interest rates
and foreign currency exchange rates; vi) economic trend factors
such as housing starts; vii) emerging governmental regulations;
viii) availability and cost of materials, particularly commodities,
including steel, copper and aluminum, whose cost can be subject to
significant variation; ix) actions of competitors; x) the ultimate
cost of resolving environmental and legal matters; xi) our ability
to profitably develop, manufacture and sell both new and existing
products; xii) the extent of any business disruption that may
result from the restructuring and realignment of our manufacturing
operations or system implementations, the ultimate cost of those
initiatives and the amount of savings actually realized; xiii) the
extent of any business disruption caused by work stoppages
initiated by organized labor unions; xiv) the ability of the
Company to maintain adequate liquidity in total and within each
foreign operation; xv) potential political and economic adversities
that could adversely affect anticipated sales and production in
Brazil; xvi) potential political and economic adversities that
could adversely affect anticipated sales and production in India,
including potential military conflict with neighboring countries;
xvii) our ability to reduce a substantial amount of costs in the
Engine & Power Train group associated with excess capacity, and
xviii) the ongoing financial health of major customers. The
forward-looking statements are made only as of the date of this
report, and we undertake no obligation to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise. Press releases and other investor
information can be accessed via the Investor Relations section of
Tecumseh Products Company's Internet web site at
http://www.tecumseh.com/. DATASOURCE: Tecumseh Products Company
CONTACT: Teresa Hess, Director, Investor Relations for Tecumseh
Products Company, +1-517-423-8455, Web site:
http://www.tecumseh.com/ Company News On-Call:
http://www.prnewswire.com/comp/842875.html
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