Dana Sees 2011 Sales of $7.6B vs $7.61B Est

Dana Holding Corporation (NYSE:

) today announced its estimated financial results for 2011 and its outlook for 2012. Highlights of the company's estimated 2011 performance include: Sales of approximately $7.6 billion, a nearly 25-percent increase over 2010, Adjusted EBITDA of approximately $765 million, Diluted adjusted earnings per share (

) of approximately $1.60, which was driven by stronger adjusted net income and will double EPS performance from 2010, Capital spending of approximately $190 million, and Free cash flow of approximately $175 million. For 2012, Dana has established the following financial targets: Sales growth of at least 5 percent, Adjusted EBITDA of $845 million to $865 million, Adjusted EBITDA as a percent of sales of 10.5 percent to 11 percent, Diluted adjusted EPS of $1.95 to $2.05, Capital spending of $225 million to $250 million, and Free cash flow of more than $200 million, excluding a special one-time $150 million pension contribution.