Federal-Mogul Corporation (NYSE: FMO) today released 1998 pro forma sales and operational EBIT. The numbers reflect the company's results for 1998, adjusted for the full year effect of acquisitions and divestitures. The acquisitions included: T&N, Fel- Pro, the automotive businesses of Cooper Industries, Bimet, KFM Bearing, Glockler, Tri-Way and Camshaft Machine. Divestitures included: Glacier Vandervell, Heat Transfer, Fel-Pro Chemical and the remaining Federal-Mogul retail operations.
Federal-Mogul Pro Forma* Sales and Operational Earnings
Year Ended December 31, 1998
Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Sales ($ million) $1,624 $1,679 $1,575 $1,571 $6,449 Operational EBIT ($ million) $168 $179 $181 $191 $719 * Assumes all acquisitions and divestitures were in place for a full year. 1998 operational EBIT numbers include $51 million in synergy the company achieved as a result of acquisition activity. "We remain on track to realize $225 million in incremental 1999 synergy as previously disclosed," said Thomas W. Ryan, executive vice president and chief financial officer. "The incremental synergy combined with $150 million in net new 1999 business announced on April 28 should contribute to healthy 1999 results." Headquartered in Southfield, Michigan, Federal-Mogul is an automotive parts manufacturer providing innovative solutions and systems to global customers in the automotive, light truck, heavy-duty, and farm and industrial markets. The company was founded in 1899. Visit the company's web site at http://www.federal-mogul.com for more information. Federal- Mogul's press releases are available by fax through Company News On-Call, call 800-758-5804, ext. 306225. Information in this press release contains forward-looking statements under the private Securities Litigation Reform Act of 1995. Actual results, events and performance could differ materially from those contemplated by these statements such as the timing of new business development, conditions in the automotive components industry and other factors discussed in the company's 1998 Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. ots Original Text Service: Federal-Mogul Corporation Internet: http://www.newsaktuell.de Contact: Kimberly A. Welch of Federal-Mogul Tel.: (in the USA) 248-354-1916 Company News On- Call: http://www.prnewswire.com/comp/306225.html or fax, 800-758- 5804, ext. 306225 Web site: http://www.federal-mogul.com