Dana Corp.: Oversold Automotive related Manufacturer

MarketCap: $1.8 Billion = $7.18 x 150.4million shares
Book Value Per Share .. : $7.05 (mrq) ... VIDEO:

Dana vs. Ford ...



Dana Corporation (DCN) is a global leader in the design, engineering, and manufacture of value-added products and systems for automotive, commercial, and off-highway vehicle manufacturers and their related aftermarkets. The company employs more than 60,000 people worldwide. Founded in 1904 and based in Toledo, Ohio, Dana operates hundreds of technology, manufacturing, and customer service facilities in 34 countries.



Jan.$5c.: DCNAA 2.25 +0.10 245.00 2.10 2.30 692.00
Price/Book (mrq): 0.46 ... Book Value Per Share (mrq): 15.72
Enterprise Value/Revenue (ttm)3: 0.30
Enterprise Value/EBITDA (ttm)3: 5.898
Total Cash Per Share (mrq): 4.429
Total Debt (mrq): 2.39B
Total Debt/Equity (mrq): 1.013
Current Ratio (mrq): 1.312
@:

monthly


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DCN is up for the second consecutive day after the company announced in an SEC report that it expects to report adjustments to past earnings before week's end. It is hoped that the expected earnings restatement would provide some clarity concerning the company's financial health. DCN has gained nearly seven percent in the last two days. Nevertheless, DCN stock is down 59 percent for the year and the company must still struggle with the auto industry's woes. Short interest has risen sharply, more than tripling in 2005

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TOLEDO, Ohio, Dec 30, 2005 /PRNewswire-FirstCall via COMTEX/ --
Dana Corporation (NYSE: DCN) announced today that it has completed the restatements of its financial statements for the first two quarters of 2005, the year 2004, and prior years,...

As a result of these restatements, the total reduction in net income after tax for all periods restated was $44 million.

Among the strategic and operational initiatives the company is pursuing are:

- Renewing its focus on light- and heavy-vehicle drivetrain, structural,
sealing, and thermal products;
- Divesting three non-core businesses - engine hard parts, fluid products
and pump products - with annual revenues of $1.3 billion;
- Restructuring within the Automotive Systems and Heavy Vehicle
Technologies and Systems groups;
- Increasing business efficiency and making workforce reductions;
- Reducing benefit costs;
- Taking steps to dissolve its joint venture with DESC S.A. de C.V. to
enable Dana to acquire full ownership of core operations based in
Mexico that manufacture and assemble axles and driveshafts;
- Consolidating the North American operations of the Thermal Products
group to reduce operating and overhead costs and strengthen
competitiveness; and
- Establishing an off-highway axle and transmission assembly facility in
Gyor, Hungary, that is expected to begin production in the first
quarter of 2006.

"These actions reflect our commitment to improved operating efficiency, while continuing to profitably grow our business," Mr. Burns said. "We intend to build upon these actions to provide world-class products, service, and support to all of our customers in the global market segments we know best."

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