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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): December 16, 1996
Walbro Corporation
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(Exact Name of Registrant as Specified in Charter)
Delaware 0-6955 38-1358966
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(State or Other Jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
6242 Garfield Street, Cass City, Michigan 48726
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (517) 872-2131
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ITEM 5. OTHER EVENTS.
On December 16, 1996, the Registrant issued the Press Release attached as
Exhibit 99.1. The information contained in this press release is
incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Exhibits.
99.1 News release of Registrant dated December 16, 1996.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Walbro Corporation
By: /s/ L. E. Althaver
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Dated: December 18, 1996 L.E. Althaver
Chairman and Chief Executive Officer
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EXHIBIT INDEX
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Exhibit # Item Number
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99.1 News release of Registrant dated December 16, 1996 5
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EXHIBIT 99.1
FOR RELEASE: FOR FURTHER EDITORIAL INFORMATION
12/16/96 Contacts
at end
Walbro Corporation
6242 Garfield Street
Cass City, Michigan 48726
WALBRO CORPORATION EARNINGS EXPECTED TO BE BELOW ESTIMATES
CASS CITY, Michigan -- Walbro Corporation announced today that fourth quarter
and 12-month 1996 earnings are likely to be lower than analysts' estimates.
L.E. Althaver, Chairman and Chief Executive Officer, Walbro Corporation, stated
that the lower earnings are due to several factors. "Weak passenger car sales
in Europe, the strong dollar and continued insourcing of products by a major
domestic automotive customer affected profits from automotive operations in the
fourth quarter," he said.
"In addition, several factors that affected third quarter earnings continued
into the fourth quarter as well. As previously noted, production at Walbro
Automotive's new plastic fuel tank facility in Brazil did not begin in the
third quarter as planned. While production did begin in the fourth quarter,
the customer-scheduled ramp-up was below expected levels and affected margins,"
Althaver said.
"Production at Walbro Engine Management's new carburetor plant in China is
increasing more slowly than planned, with shipments remaining below scheduled
levels in the fourth quarter," Althaver noted. "In addition, worldwide orders
for lawn-and-garden products did not rebound as expected in the fourth quarter
due to carry-over of customer inventory."
"Notwithstanding these issues, the outlook for 1997 remains positive based, in
part, on new plastic fuel tank programs which will start in the second half of
the year," the Walbro Chief Executive concluded.
Walbro Corporation is a designer and manufacturer of precision fuel systems and
products for automotive and small engine markets. Walbro Corporation is
headquartered in Cass City, Michigan, and has subsidiaries and joint ventures
throughout the world, including North and South America, Europe and Asia.
Walbro common stock is traded on the Nasdaq Stock Market under the symbol WALB.
# # #
For further information contact: Mike Shope
or
L.E. Althaver
Walbro Corporation
(517) 872-2131
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