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

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Presentation on theme: "Standard Motor Products, Inc. Annual Meeting of Shareholders May 20, 2010."— Presentation transcript:

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

2 2010 Annual Meeting of Shareholders ►Larry Sills, Chairman and CEO ►Jim Burke, VP Finance & CFO

3 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 1995. 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.

4 Larry Sills Chairman and Chief Executive Officer

5 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

6 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

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

8 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)

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

10 Result

11 Other Accomplishments

12

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

14 Jim Burke Vice President and Chief Financial Officer

15 2009 Results

16 2009 Income Statement Non - GAAP

17 1720082009Target Engine Management Gross Margin % 23.3%24.7%27-28% Temperature Control Gross Margin % 19.3%19.7%23-24% Substantial Margin Improvement

18 First Quarter 2010 Results

19 1 st Quarter Income Statement Non - GAAP

20 Condensed Balance Sheet

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

22 APPENDIX

23 Reconciliation of GAAP and Non-GAAP Measures

24


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