Key Developments: Gentherm Inc (THRM.OQ)

THRM.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Gentherm Inc To Exceed High End Of Prior FY 2013 Revenue Guidance
6:00am EDT 

Gentherm Inc announced that it expects revenue for fiscal 2013 to exceed the high end of the Company's previous guidance of 8% to 10% over 2012 revenues of $555 million. According to I/B/E/S estimates, analysts were expecting the Company to report revenues of $610 million for fiscal 2013.  Full Article

Gentherm Inc Reaffirms FY 2013 Revenue Guidance
Tuesday, 7 May 2013 06:03am EDT 

Gentherm Inc announced that for fiscal 2013, it expects revenue to increase 8% to 10% over 2012 revenues of $555 million. According to I/B/E/S estimates, analysts were expecting the Company to report revenues of $605 million for fiscal 2013.  Full Article

Gentherm Inc Receives Order For Patented Thermal Heating And Cooling Bedding Technology
Tuesday, 16 Apr 2013 06:30am EDT 

Gentherm Inc announced that it has received the first order for thermal heating and cooling bedding technology from Intercoil International, a Dubai-based sleep products manufacturer and retailer. Intercoil is installing the Gentherm technology in a line of specially-designed heated and cooled memory foam mattress products.  Full Article

Gentherm Inc Issues FY 2013 Revenue Guidance In Line With Analysts' Estimates
Wednesday, 6 Mar 2013 06:00am EST 

Gentherm Inc announced that for fiscal 2013, it expects revenue to increase 8% to 10% over 2012 revenues, which were $555 million. According to I/B/E/S estimates, analysts were expecting the Company to report revenues of $601 million for fiscal 2013.  Full Article

Gentherm Inc Announces Closing Of Transaction To Acquire All W.E.T. Shares Owned By Minority Shareholder
Thursday, 21 Feb 2013 10:10am EST 

Gentherm Inc announced that the closing of the previously announced acquisition of all the shares of W.E.T. Automotive Systems AG (W.E.T.) owned by Heidelberg, Germany-based Deutsche Balaton AG, the largest minority shareholder of W.E.T. Gentherm issued 3.3 million common shares and paid approximately $7.5 million in cash in exchange for Deutsche Balaton's 442,253 shares in W.E.T. (or 13.8 % of the total outstanding W.E.T. shares). Another minority shareholder in W.E.T. has agreed to sell 23,044 W.E.T. shares to Gentherm for €85 per share in cash. The above acquisitions bring the total stock of W.E.T. held by Gentherm to 2,897,360 shares, representing approximately 90 % of W.E.T.'s outstanding shares.In connection with the closing, Deutsche Balaton withdrew its legal case opposing the registration of a Domination and Profit and Loss Transfer Agreement (DPLTA), which, under German law, allows Gentherm and W.E.T. to be managed as one operational entity. Gentherm has agreed to offer to acquire, upon registration of the DPLTA, the remaining shares of W.E.T. held by other minority shareholders for a total payment of €85 per W.E.T. share, or an aggregate of approximately $37 million in cash.  Full Article

Gentherm Inc Announces Agreement To Acquire W.E.T. Automotive Systems AG
Friday, 15 Feb 2013 06:00am EST 

Gentherm Inc announced that it has reached an agreement to acquire all the shares of W.E.T. Automotive Systems AG (W.E.T.) owned by Heidelberg, Germany-based Deutsche Balaton AG. Deutsche Balaton remains indirectly a shareholder of W.E.T. via Gentherm. Upon completion of the transaction, Deutsche Balaton has agreed to withdraw legal case opposing the registration of a Domination and Profit and Loss Transfer Agreement (DPLTA), which, under German law, would essentially allow Gentherm and W.E.T. to be managed as one operational entity. The transaction involves the issuance of 3.3 million Gentherm common shares and payment of approximately $7.5 million in cash in exchange for Deutsche Balaton's 442,253 shares in W.E.T. (or 13.8% of the total outstanding W.E.T. shares). Closing of the transaction is expected to occur within a few days. Gentherm and W.E.T. intend to pursue swift registration of the DPLTA after the transaction is consummated.  Full Article

Gentherm Inc Comments On Q4 2012 Revenue Guidance; Reaffirms FY 2012 Revenue Guidance
Thursday, 1 Nov 2012 06:00am EDT 

Gentherm Inc announced that it expects combined revenues of Gentherm/W.E.T. in the 2012 fourth quarter to be in-line with the Company's full year forecast. Barring unforeseen economic turbulence, including worsening of the European market or unfavorable fluctuations of the Euro exchange rate, 2012 revenue appears to be strong for the combined companies. Gentherm is expecting revenue growth for fiscal 2012 in the range of 10% over the combined Gentherm/W.E.T. 2011 revenues (which were $501.2 million on a full year pro-forma basis). According to I/B/E/S estimates, analysts were expecting the Company to report revenues of $149 million for the fourth quarter of 2012 and revenues of $552 million for fiscal 2012.  Full Article

Gentherm Inc Announces Contract Expansion From U.S. Department of Energy to Develop Thermoelectric-Based Energy Recovery System
Friday, 28 Sep 2012 06:00am EDT 

Gentherm Inc announced that it has received a $1.55 million contract modification from the U.S. Department of Energy (DOE) to apply the technology in its thermoelectric generator (TEG) for passenger cars to a similar program for heavy vehicles.  Full Article

Amerigon, Inc. Issues Q3, FY 2012 Revenue Guidance In Line With Analysts' Estimates
Thursday, 2 Aug 2012 06:00am EDT 

Amerigon, Inc. announced that it expects combined revenues of Gentherm/W.E.T. in the third quarter of 2012 to be moderately higher compared with the second quarter of 2012 ($136.2 million) and in-line with the Company's full year forecast. Barring unforeseen economic turbulence including worsening of the European market or unfavorable fluctuations of the Euro exchange rate, 2012 appears to be a strong year for the combined companies. Gentherm is expecting revenue growth for fiscal 2012 in the range of 10% over the combined Gentherm/W.E.T. 2011 revenues (which were $501.2 million on a full year pro-forma basis). According to I/B/E/S estimates, analysts were expecting the Company to report revenues of $140 million for the third quarter of 2012; revenues of $549 million for fiscal 2012.  Full Article

Amerigon Incorporated Announces Trading Symbol To Change To THRM And Proposed Corporate Name Change To Gentherm Incorporated
Wednesday, 6 Jun 2012 06:00am EDT 

Amerigon Incorporated announced that, effective June 13, 2012, its trading symbol will be changed from ARGN to THRM. The Company's CUSIP number remains unchanged. In addition, the Company announced its intention to formally change its name to Gentherm Incorporated. The Company will begin doing business as Gentherm, effective June 13, 2012, and a special meeting of the Company's stockholders will be held on September 5, 2012, to approve an amendment to the Company's Articles of Incorporation to reflect the name change.  Full Article

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