Hayes Lemmerz corrects reported losses back to 2006
DETROIT, Hayes Lemmerz International , which supplies wheels to automakers, on Friday said it had misstated per-share losses for the three fiscal years through 2008 because of a mistaken share count estimate. The company said in a filing with the U.S. Securities and Exchange Commission it had not correctly reflected the effect of a 2007 equity rights offering in its per-share results. After making the correction, the Northville, Michigan-based auto parts supplier said it would have posted narrower per-share losses for its 2006, 2007, and 2008 fiscal years. The company's per-share loss for the fiscal year ended Jan. 31, 2006 would have been 34 percent narrower at $7.99 compared with a first-reported loss of $12.06. For 2007, the corrected loss per-share was $2.89 compared with $4.36 as first reported. For 2008, the corrected loss was $2.23 per share compared with an initially reported loss of $2.41.
3/16/2009
HAYZ Close Price: 0.07
Change▲ 0.03 (+75%)
Volume 15,931,356
High Today
$0.09
Low Today
$0.06
3/17/2009
HAYZ Close Price: 0.13
Change▲ 0.05 (+62.5%)
Volume 9,698,944
:beer2:
Comment