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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (16696)	9/7/2000 5:35:37 PM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 436258

HO HO HO! I do love prewarning season so....... Rather fittingly, these guys make car airbags, in case of CRASHES! Note also the reason given, "weakening foreign currency"....we'll see a whole slew of these in the next few weeks. biz.yahoo.com Thursday September 7, 5:20 pm Eastern Time TRW to miss third-quarter earnings expectations NEW YORK, Sept 7 (Reuters) - TRW Inc. (NYSE:TRW - news) on Thursday said it expects to miss Wall Street estimates for third-quarter earnings due to weakening foreign currency and other problems that could carry over into the fourth quarter. The Cleveland-based manufacturer of automotive, space and defence products said third-quarter earnings would not meet analysts' consensus estimate of $1.05 per share. TRW said earnings would be reduced by 19 to 24 cents due to weakening foreign currency, production cutbacks at Ford Motor Co. (NYSE:F - news), weaker than expected revenues at its space and electronics business, increased investments in technology bank initiatives, and a higher level of interest expense. TRW said it believes it will achieve its previously announced cash flow goal of reducing net debt by about $300 million in the second half of 2000. The company also said it would take a primarily non-cash, after-tax charge of $36 million to consolidate its air bag operations in order to optimize operating efficiencies, and $14 million in third-quarter, after-tax charges for a recall involving truck parts treated by a TRW business and inventory adjustments at two automotive manufacturing facilities.