Lear Corp Raises FY 2012 Revenue And Net Income Guidance; Narrows FY 2012 EBIT Guidance To A Range In Line With Analysts' Estimates

Lear Corp announced that for fiscal 2012, it expects revenue to be approximately $14.3 billion, as compared to the prior guidance of $13.9 to $14.4 billion and core operating earnings (EBIT) are expected to be in the range of $745 to $785 million, which reflects a narrowing of the range as compared to the prior guidance of $740 to $790 million. Tax expense, excluding the impact of restructuring costs and other special items, is expected to be approximately $130 million, as compared to the prior guidance of $130 to $150 million. Adjusted net income attributable is expected to be in the range of $520 to $560 million, up from the prior guidance of $510 to $540 million, primarily reflecting lower tax expense. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $14.3 billion, EBIT of $776 million and net income of $527 for fiscal 2012.