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Second Quarter 2020 Financial Results August 4, 2020 Ray Scott, President and CEO Jason Cardew, Senior Vice President and CFO
Ray Scott, President and CEO
Jason Cardew, Senior Vice President and CFO2Forward -Looking Statements
This presentation contains forward -looking statements within themeaning ofthePrivate Securities Litigation Reform Actof1995 ,including statements regarding anticipated
financial results andliquidity .The words “will,” “may,” “designed to,”“outlook,” “believes,” “should,” “anticipates,” “plans,” “expects,” “intends,” “estimates,” “forecasts” and
similar expressions identify certain ofthese forward -looking statements .The Company also may provide forward -looking statements inoral statements orother written
materials released tothepublic .Allstatements contained orincorporated inthispresentation orinanyother public statements thataddress operating performance, events or
developments thattheCompany expects oranticipates may occur inthefuture areforward -looking statements .Factors thatcould cause actual results todiffer materially from
these forward -looking statements arediscussed intheCompany’s Annual Report onForm 10-Kfortheyear ended December 31,2019 ,Quarterly Report onForm 10-Qfor
thequarter ended April 4,2020 ,anditsother Securities andExchange Commission filings .Future operating results willbebased onvarious factors, including theimpact of
COVID -19onourbusiness andtheglobal economy, actual industry production volumes, commodity prices, theimpact ofrestructuring actions andtheCompany’s success in
implementing itsoperating strategy .
Information inthispresentation relies onassumptions intheCompany’s sales backlog .The Company’s sales backlog reflects anticipated netsales from formally awarded
new programs lesslostanddiscontinued programs .TheCompany enters intocontracts withitscustomers toprovide production parts generally atthebeginning ofavehicle’s
lifecycle .Typically, these contracts donotprovide foraspecified quantity ofproduction, andmany ofthese contracts may beterminated bytheCompany’s customers atany
time.Therefore, these contracts donotrepresent firmorders .Further, thecalculation ofthesales backlog does notreflect customer price reductions onexisting ornewly
awarded programs .Thesales backlog may beimpacted byvarious assumptions embedded inthecalculation, including vehicle production levels onnew programs, foreign
exchange rates andthetiming ofmajor program launches .
Theforward -looking statements inthispresentation aremade asofthedate hereof, andtheCompany does notassume anyobligation toupdate, amend orclarify them to
reflect events, new information orcircumstances occurring after thedate hereof .
Non-GAAP Financial Information
This presentation also contains non-GAAP financial information .Foradditional information regarding theCompany’s useofnon-GAAP financial information, aswell as
reconciliations ofnon-GAAP financial measures tothemost directly comparable financial measures calculated and presented inaccordance with accounting principles
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