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Article: Technitrol Announces Credit Amendment and 1H09 Outlook, Explores Options to Significantly Reduce Debt.
- Article from:
- Business Wire
- Article date:
- February 23, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PHILADELPHIA -- Technitrol, Inc. (NYSE:TNL) announced that it has amended its credit facilities to provide significant additional operating flexibility to navigate through the current uncertain economic environment. The amendments took effect February 20, 2009 and will extend through the maturity of the facility in 2013.
Technitrol also provided its current internally generated revenue and operating profit outlooks for the first half of 2009, based on current industry analyses, customer activity and other anecdotal evidence. In the first quarter, the company currently expects revenues to be between $180 million and $185 million, and EBITDA, excluding severance ...
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