Corporate

- Record First Quarter Net Sales Up 27% to $5.2 Billion;
- Record First Quarter Adjusted Net Income up 29% to $134 Million;
- Record First Quarter Adjusted EPS of $0.22

SINGAPORE, July 26 /PRNewswire-FirstCall/ -- Flextronics (NASDAQ:FLEX) today announced results for its first quarter ended June 29, 2007 as follows:

[code] (US$ in millions, except EPS)
Three Month Periods Ended
June 29, 2007 June 30, 2006

Net sales $5,157 $4,059
GAAP operating income $133 $117
Adjusted operating income (1) $153 $124
GAAP net income $107 $85
Adjusted net income (1) $134 $104
Diluted GAAP EPS $0.17 $0.14
Adjusted EPS (1) $0.22 $0.18[/code]

(1) A reconciliation of non-GAAP financial measures to GAAP financial measures is presented in Schedule II attached to this press release.

CHARLOTTE, Mich., July 26 /PRNewswire-FirstCall/ -- Spartan Motors, Inc. (NASDAQ:SPAR) today announced it has received authorization from its board of directors to repurchase up to 1 million shares, or approximately 3 percent of its outstanding common stock.

The Charlotte, Mich.-based manufacturer of custom motorhome chassis, fire truck chassis and emergency-rescue vehicles reported its board of directors approved the buyback to allow the Company to purchase common stock in open-market transactions over the next 12 months. Spartan Motors reported 32.95 million shares of common stock outstanding as of June 30, 2007.

Global Consolidated Net Sales Rise 15 Percent

KARIYA, Japan, July 26 /PRNewswire/ -- DENSO Corporation today announced global financial results for the first quarter ended June 30, 2007:

-- Consolidated net sales totaled 984.3 billion yen (US$8.0 billion), a 15 percent increase from the first quarter of last term.
-- Consolidated operating income totaled 93.3 billion yen (US$757.2 million), a 13.1 percent increase from the first quarter of last term.
-- Consolidated net income totaled 67.3 billion yen (US$546.3 million), a 15 percent increase from the first quarter of last term.

BorgWarner Raises Full Year Guidance By $0.10 Per Diluted Share

AUBURN HILLS, Mich., July 26 /PRNewswire-FirstCall/ -- BorgWarner Inc. (NYSE:BWA) second quarter sales showed strong growth over last year, driven by the demand for fuel-efficient engine and drivetrain technology around the world. The company posted solid earnings growth in the quarter despite the impact of lower domestic vehicle production and sharply higher commodity costs.

Second Quarter Highlights:
- Record sales of $1,364.3 million, up 17% from second quarter 2006
- Sales outside of the U.S. grew 20% over second quarter 2006, excluding the impact of currency
- Earnings of $1.29 per diluted share, up 7% from second quarter 2006
- Operating income margin of 8.3%
- Company has raised its 2007 full year sales growth expectation to greater than 10% and its earnings guidance by $0.10 per diluted share to $4.63 to $4.83 per diluted share primarily due to the favorable impact of foreign currencies

DOVER, Del., July 26 /PRNewswire-FirstCall/ -- Dover Motorsports, Inc. (NYSE:DVD) today reported its results for the second quarter ended June 30, 2007.

For the quarter ended June 30, 2007 revenues were $40,806,000 compared with $45,003,000 in the second quarter of 2006. Earnings before income taxes were $11,285,000 compared with $15,012,000 in the comparable quarter of the prior year.

DOVER, Del., July 25 /PRNewswire-FirstCall/ -- Dover Motorsports, Inc. (NYSE:DVD) Board of Directors today declared a quarterly cash dividend on both classes of common stock of $.015 per share. The dividend will be payable on September 10, 2007 to shareholders of record at the close of business on August 10, 2007.

John Barth to Retire After 38 Years of Service

MILWAUKEE, July 26 /PRNewswire-FirstCall/ -- Johnson Controls, Inc. (NYSE:JCI) Board of Directors today announced that Stephen A. Roell, executive vice president and vice chairman, has been elected chief executive officer effective October 1, 2007. He was also elected chairman of Johnson Controls' Board of Directors effective January 1, 2008.

Mr. Roell will succeed John M. Barth, who will retire December 31, 2007. Mr. Barth will continue as a member of the company's Board of Directors.

NEW YORK, July 26 /PRNewswire-FirstCall/ -- Asbury Automotive Group, Inc. (NYSE:ABG) , one of the largest automotive retail and service companies in the U.S., today announced that its board of directors has declared a quarterly cash dividend of $0.225 per share of common stock, a 12.5% increase from the previous quarterly dividend of $0.20 per share. The dividend is payable on August 20, 2007, to shareholders of record at the close of business on August 6, 2007.

Highlighted by 30.5 Percent Net Earnings Gain, Record Backlog

CHARLOTTE, Mich., July 26 /PRNewswire-FirstCall/ -- Spartan Motors, Inc. (NASDAQ:SPAR) reported its best-ever second quarter results marked by a 39.7 percent increase in net sales and a 30.5 percent increase in net earnings for the quarter ended June 30, 2007.

Spartan, a leading manufacturer of custom vehicle chassis and emergency- rescue vehicles, reported net earnings of $6.5 million, or $0.20 per diluted share, on net sales of $152.6 million in the second quarter of 2007, compared with net earnings of $5.0 million, or $0.17 per diluted share, on net sales of $109.2 million in the second quarter of 2006. All financial information includes adjustments for the Company's 3-for-2 stock splits in June 2007 and Dec. 2006.

- Net income up 67%, EPS up 65% year-over-year
- EBIT up 39%; EBITDA up 26% year-over-year
- Record high quarterly revenue of $1.7 billion

LAKE FOREST, Ill., July 26 /PRNewswire-FirstCall/ -- Tenneco (NYSE:TEN) reported second quarter 2007 net income of $40 million, or 84-cents per diluted share, a significant increase from $24 million, or 51-cents per diluted share in second quarter 2006. Adjusted for the items below, net income was $41 million, or 87-cents per diluted share, versus $33 million, or 71-cents per diluted share one year ago (the tables attached to the press release reconcile GAAP results to non-GAAP results). The comparative 2006 financial results reflect the preliminary results of the restatement discussed in the company's July 23, 2007 press release. Final 2006 results will be reflected in Tenneco's restated financial statements that it expects to file in August 2007.