BorgWarner Inc. Lowers FY 2012 Guidance

BorgWarner Inc. announced that it has revised its fiscal 2012 guidance, the Company expects fiscal 2012 net sales growth of 4% to 6%, excluding the negative impact of foreign currencies, the Company expects fiscal 2012 net sales growth of 9% to 11% and the Company expects fiscal 2012 net earnings of $5.05 to $5.25 per diluted share (EPS) excluding non-comparable items, a record level for BorgWarner and up 13% to 18% compared with fiscal 2011. The Company reported revenue of $7.115 billion in fiscal 2011. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $7.767 billion and EPS of $5.38 for fiscal 2012.