Key Developments For Altra Holdings, Inc.
Altra Holdings, Inc. (AIMC.O) (Nasdaq)
Altra Holdings, Inc. Announces Pricing of $210 Million Note Offering of Senior Secured Notes Due 2016
Altra Holdings, Inc. announced that on November 16, 2009, it priced its private placement offering to eligible purchasers of an aggregate principal amount of $210 million 8.125% senior secured notes due 2016. The Notes are priced at 98.691% of the face value to yield 8.375% to maturity. The offering is expected to settle and close on November 25, 2009. The Notes will be guaranteed on a secured basis by Altra Holdings' direct and indirect domestic subsidiaries. Proceeds of the offering along with cash on hand will be used to repurchase Altra Industrial Motion, Inc.'s (Altra Industrial) outstanding 9% Senior Secured Notes due 2011 (9% Notes) tendered pursuant to the tender offer launched on November 10, 2009, by Altra Industrial and to redeem any and all 9% Notes not tendered pursuant to the tender offer, in accordance with the indenture governing the 9% Notes.
Altra Holdings, Inc. Announces $200 Million Note Offering of Senior Secured Notes Due 2016
Altra Holdings, Inc. announced that it intends to offer $200 million aggregate principal amount of senior secured notes due 2016 (the Notes), subject to market conditions. The Notes will be guaranteed on a secured basis by Altra Holdings' direct and indirect domestic subsidiaries. Proceeds of the offering along with cash on hand will be used to repurchase Altra Industrial Motion, Inc.'s outstanding 9% Senior Secured Notes due 2011 (9% Notes) tendered pursuant to the tender offer launched on November 10, 2009, by Altra Industrial and to redeem any and all 9% Notes not tendered pursuant to the tender offer, in accordance with the indenture governing the 9% Notes.
Altra Holdings, Inc. Raises Low End Of Prior FY 2009 Outlook; Revenue Outlook To A Range Below Analysts' Estimates
Altra Holdings, Inc. narrowed its fiscal 2009 outlook and expects net sales to be in the range of $440-$450 million and non-GAAP recurring diluted earnings per share (EPS) in the range of $0.20-$0.25. According to Reuters Estimates, analysts were expecting the Company to report revenues of $455 million and non-GAAP EPS of $0.20 for the same period.
Altra Holdings, Inc. Lowers FY 2009 Guidance
Altra Holdings, Inc. lowered its fiscal 2009 guidance and expects net sales to be in the range of $435-$450 million and recurring diluted earnings per share (EPS) to be in the range of $0.15-$0.25. According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of $472 million and non-GAAP EPS of $0.39 for fiscal 2009. The Company cited that negative impact of the global economic downturn on its end markets as the primary reason for negative guidance.
Altra Holdings, Inc. Reaffirms FY 2009 Guidance
Altra Holdings, Inc. reaffirmed its fiscal 2009 guidance and continues to forecast sales in the range of $460 million to $500 million and recurring diluted earnings per share (EPS) of $0.25 to $0.45. According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of $488 million and non-GAAP EPS of $0.41 for fiscal 2009.
