January 25, 2018 / 1:47 PM / a month ago

BRIEF-Horizon Global Sees FY 2017 Revenue Up 37.2 To 37.6 Pct

Jan 25 (Reuters) - Horizon Global Corp:

* HORIZON GLOBAL ANNOUNCES REVISED EXPECTATIONS FOR 2017 RESULTS

* SEES FY 2017 REVENUE UP 37.2 TO 37.6 PERCENT

* SEES 2017 DILUTED LOSS PER SHARE IN RANGE OF $0.02 TO $0.08

* SEES ‍2017 OPERATING PROFIT OF $34.0 MILLION TO $36.0 MILLION, REVISED FROM PRIOR GUIDANCE OF $38.2 MILLION TO $44.2 MILLION​

* SEES 2017 ADJUSTED DILUTED EARNINGS PER SHARE IN RANGE OF $0.88 TO $0.96

* 2017 ‍REVISED EXPECTATIONS RESULTED FROM A NUMBER OF FACTORS IN COMPANY‘S BUSINESS​

* ‍HORIZON AMERICAS’ REVENUE FELL BELOW EXPECTATIONS FOR FY DUE TO SALES SHORTFALL, DELIVERY DELAYS DURING Q4​

* HORIZON GLOBAL - ‍HORIZON EUROPE-AFRICA‘S 2017 OPERATING PROFIT FELL BELOW EXPECTATIONS DUE TO UNFAVORABLE SALES MIX, INCREASED MATERIAL COSTS​

* HORIZON GLOBAL- 2017 DILUTED EPS WERE REDUCED BY ESTIMATE OF EFFECTS ON EXISTING DEFERRED TAX BALANCES, ONE-TIME TRANSITION TAX UNDER TAX REFORM

* FY2017 EARNINGS PER SHARE VIEW $1.08, REVENUE VIEW $904.7 MILLION -- THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

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