Consistent with the company’s strategies to delever its balance sheet, streamline its business operations, and focus on its core competencies in each of its network, power, and wireless segments, the company has identified a number of non-strategic assets within these three segments, and has engaged a financial advisor to direct the possible sale of certain of these non-strategic assets. The company entered into a definitive agreement to complete the first of these sales on February 29, 2012. This transaction includes the sale of two manufacturing plants and related equipment in China and the encapsulated transformer product line. The company is also currently engaged in the process of potentially selling additional non-strategic assets. Additionally, the company took a series of actions in 2011 to improve its liquidity and cash available from operations, including factory consolidation and cost and expense reductions, and the company intends to continue prudent management of its expenses and cash balances in 2012. In addition, the company is projecting lower capital spending in 2012. The cash generated through these actions is expected to enable the company to significantly reduce its outstanding debt in 2012.First Quarter 2012 Outlook and 2012 Initiatives
Pulse Electronics Corporation Reports Fourth Quarter Results
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