Forward-Looking Statements/Additional Notes This presentation and our discussion contain forward-looking information and statements including, but not limited to, such matters as expected synergies from acquisitions, business strategies, market trends, future business and financial performance, impact of new product introductions on sales, assumptions regarding effective tax rate, anticipated capital expenditures, depreciation and amortization expense, expected reductions in interest expense, forecasts of earnings per share including special charges, special charges, earnings per share excluding special charges and adjusted operating cash flow and other matters which inherently involve risks and uncertainties which could cause actual results to differ from those projected or implied in the forward-looking statements. These risks and uncertainties are addressed in the Company's SEC filings including its most recent Form 10-K. This presentation includes certain non-GAAP financial measures, which include earnings per share excluding special charges, operating margins before special charges, adjusted segment operating profits and margins, adjusted cash flow from operations, adjusted gross profit and gross margin and adjusted operating expenses. These non-GAAP measures exclude the impact of restructuring and impairment costs, gain or loss on the sale of assets, tax payment related to gain on sale of Automotive & Industrial businesses, fair market value adjustments for inventory and acquisition integration costs. In addition, this presentation includes information regarding free cash flow, which reflects cash from operations minus capital expenditures and dividend payments. Reconciliation of these non-GAAP measures to the most comparable GAAP measures is contained within this presentation. Segment operating profit is defined as a segment's revenues reduced by its materials, labor, and other product costs along with the segment's selling, engineering, and administrative expenses and minority interest. Unallocated corporate expenses, restructuring costs, gain or loss on the sale of assets, acquisition integration costs, fair market adjustments for inventory, interest income and expense and taxes on income are excluded from the measure. The following slides reflect continuing operations. |