January 17, 2018 / 12:53 PM / 4 months ago

BRIEF-Dana Inc Sees FY 2018 Sales $7.5 Billion To $7.7 Billion

Jan 17 (Reuters) - Dana Inc:

* ORPORATED ANNOUNCES STRONG PRELIMINARY 2017 FINANCIAL RESULTS AND GUIDANCE FOR 2018, INCREASED OUTLOOK FOR 2019, $800 MILLION OF SALES BACKLOG, AND INCREASE TO QUARTERLY DIVIDEND

* SETS QUARTERLY DIVIDEND OF $0.10PER SHARE

* - SEES PRELIMINARY 2017 SALES OF $7.2 BILLION

* - SEES PRELIMINARY 2017 ADJUSTED EBITDA OF $835 MILLION

* SAYS 2017 PRELIMINARY SALES OF $7.2 BILLION, AN INCREASE OF $1.4 BILLION OR GROWTH OF 24 PERCENT

* - 2018-2020 SALES BACKLOG AS OF DEC. 31, 2017, HAS IMPROVED TO $800 MILLION, A 7 PERCENT INCREASE OVER PRIOR THREE-YEAR BACKLOG

* - AUTHORIZED REPURCHASE OF UP TO $100 MILLION OF COMMON SHARES OVER NEXT TWO YEARS

* - SEES 2018 CAPITAL SPENDING OF APPROXIMATELY 4.0 PERCENT OF SALES

* - STRONG END-MARKET DEMAND AND NEW-BUSINESS BACKLOG ARE DRIVING AN EXPECTED 6 PERCENT SALES GROWTH IN 2018

* DANA - STRONG DEMAND FOR LIGHT-TRUCK PROGRAMS IS EXPECTED INTO 2018, AS IS HIGHER END-MARKET DEMAND FOR OFF-HIGHWAY EQUIPMENT AND COMMERCIAL VEHICLES

* - FOR FY19 ‍CO’S SALES, ADJUSTED EBITDA, DILUTED ADJUSTED EPS EXPECTED TO INCREASE BY $700 MILLION, $90 MILLION, AND $0.40, RESPECTIVELY VERSUS PRIOR TARGET RANGES​ Source text for Eikon: Further company coverage:

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