Standard Motor Products, Inc. Annual Meeting of Shareholders May 20, 2010.

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Presentation transcript:

Standard Motor Products, Inc. Annual Meeting of Shareholders May 20, 2010

2010 Annual Meeting of Shareholders ►Larry Sills, Chairman and CEO ►Jim Burke, VP Finance & CFO

Forward Looking Statements You should be aware that except for historical information, the matters discussed herein are forward looking statements within the meaning of the Private Securities Litigation Reform Act of Forward looking statements, including projections and anticipated levels of future performance, are based on current information and assumptions and involve risks and uncertainties which may cause actual results to differ materially from those discussed herein. You are urged to review our filings with the SEC and our press releases from time to time for details of these risks and uncertainties.

Larry Sills Chairman and Chief Executive Officer

Key Priorities – As Per 2009 ►Generate►Generate Cash ►Reduce Debt ►Redeem Convertible Debentures  Original Issue $90 MM  6.75% Coupon  10 Year Life  Due July 15, 2009

Actions Taken ►Sold LIC Building ►Reduced Inventory  $30 Million in 2009  $20 Million in 2008 ►Reduced Accounts Receivable  $50 Million ►Suspended Dividend  Reinstated in 2010

Actions Taken ►Hiring Freeze/ Early Retirement  Reduced Salaried Staff ►100 People ►10% of Total ►Reduced Capital Expenditures  $7.2mm 2009  $11.5mm Historical Average

Actions Taken ►Exited Two Businesses  Blue Streak Electronics  European Distribution ►Rolled Over $17 MM Bonds  2 Years  15% Interest ►Raised Additional Equity  3,450,000 Shares  $27.5 MM (Net of Expenses)

Result ►2009 Debt Reduction  $118 Million ►Redeemed Balance of Bonds ►Debt : EBITDA Ratio  2008: 6.2 (x)  2009: 1.7 (x)

Result

Other Accomplishments

Conclusion ►2009 was an Excellent Year ►Redeemed Bonds ►Reduced Cost Structure ►Reduced Debt ►Well Positioned for Future Growth

Jim Burke Vice President and Chief Financial Officer

2009 Results

2009 Income Statement Non - GAAP

Target Engine Management Gross Margin % 23.3%24.7%27-28% Temperature Control Gross Margin % 19.3%19.7%23-24% Substantial Margin Improvement

First Quarter 2010 Results

1 st Quarter Income Statement Non - GAAP

Condensed Balance Sheet

Thank You Standard Motor Products, Inc. Annual Meeting of Shareholders May 20, 2010

APPENDIX

Reconciliation of GAAP and Non-GAAP Measures