Key Developments For Williams Controls, Inc.
Williams Controls, Inc. (WMCO.O) (Consolidated Issue listed on NASDAQ Global Market)
Williams Controls, Inc. Issues Q1 2009 Guidance Below Analysts' Estimates
Williams Controls, Inc. announced that it expects the weaker economic environment and related order reductions to further reduce sales for the first quarter of 2009 to approximately $12 million from $15 million in the first quarter of fiscal 2008 and expects net income to be at break-even levels. According to Reuters Estimates, analysts were expecting the Company to report revenue of $18.20 million and net profit of $2.33 million for the first quarter of 2009.
Williams Controls, Inc. Issues Q4, FY 2008 Outlook; Announces Stock Repurchase Program
Williams Controls, Inc. announced that for fourth quarter of 2008, it expects sales to be in the range of $17.1 million and net income to be $2.1 million, or $.27 per fully diluted share. For fiscal 2008, it expects sales to be $65.7 million and net income to be approximately $7.9 million, or $1.03 per fully diluted share. The Company also announced that its Board of Directors has authorized the purchase, from time to time, of up to $5 million of shares of its Common Stock.
Williams Controls, Inc. To Supply Chinese Truck Manufacturer With Electronic Throttle Controls
Williams Controls, Inc. announced that it has signed a contract with a Chinese truck manufacturer to begin production of electronic throttle controls (ETC) for use as standard equipment on its heavy trucks. Effective March 2007, Williams will begin shipping an estimated 1,000 pedals monthly, with higher volumes anticipated as the demand for electronic engines continues to grow in China. The ETCs will be manufactured at Williams Controls' plant in Suzhou, China.
Williams Controls, Inc. Begins Trading on NASDAQ
Williams Controls, Inc. announced that it has begun trading on NASDAQ. The stock has previously traded at OTC Bulletin Board under the ticker symbol ''WCON''.
Williams Controls, Inc. Receives Electronic Throttle Control Supply Award From Major United States Off-Road Equipment
Williams Controls, Inc. announced that one of United States manufacturer of off-road equipment has granted Williams Controls a production award for electronic foot pedals for specific platforms of its material handling equipment. First production shipments are scheduled for late 2007, with full production in the first quarter of 2008. When in full production, annual sales from this award will be in excess of $700,000.
