Second Quarter 2015 

Business Highlights

  • Revenue for the 3 months ended June 30, 2015 declined 5% to $765M from $806 (an increase of 4% on a constant-currency basis).
  • Diluted loss per share was $1.17 for the 3 months ended June 30, 2015 from a diluted loss per share of $0.24 in 2Q 2014. The increased diluted loss per share reflected the impact of cost reduction charges ($0.97 per share after-tax) and higher year-over-year pension expense of $0.18 per share.
  • Reported pretax cost reduction charges of $53M for the three months ended June 30, 2015. Used cash of $13M for the cost reduction effort during this same period.
  • Operating cash usage of $64M for the 6 months ended June 30, 2015 from operating cash flow of $23M from the same period last year. The cash usage reflected higher losses, and increased working capital requirements.
  • Cash and cash equivalents totaled $365M as of June 30, 2015.
    U.S. = 25%
    ​International = 75%

Second Quarter 2015 ($M)

4Q14 Profile  


First Half 2015 ($M)

4Q14 Profile