Dura Automotive Systems Inc., parent of RV industry supplier Atwood Mobile Products Inc., anticipates reporting a third quarter loss in the range of 15 cents to 20 cents per share.
Dura will release its third quarter earnings report and provide an outlook for the remainder of 2001 on Oct. 22.
The company will report a loss for three reasons: the divestiture of its unprofitable Australian operations; recent production cuts by its major North American customers and greater-than-expected start-up costs for new programs in Europe.
Dura will take a $7.7 million, or 25 cents a share, non-cash charge to write-off its investment in the Australian operations.
The production cuts by North American customers and higher-than-expected European products start-up costs will negatively impact Dura’s earnings in an amount equivalent to around 30 cents a share.