Q2 2003 Outlook (YOY Comparison) ($ U.S. Millions, except per share data)
Sales $ 4,900 - 5,100 (5%) - (9%)
Net Income* $ 14 - 19 15% - 56%
EPS* $ 0.09 - 0.12 13% - 50%
Earnings growth outlook reflect improvement in operating profitability despite lower sales.
*Excluding reorganization costs, major-program costs and special items. Guidance issued April 29, 2003, for the second quarter ending June 28, 2003. The company’s net results required to be reported based on GAAP will likely differ significantly from the outlook because of major-program costs related to the profit enhancement program announced on Sept. 18, 2002, or other actions that may be implemented. The company’s major-program costs, and therefore GAAP earnings, in any one quarter cannot be reasonably estimated.