Dollar Thrifty Automotive Group Reports on Difficult Operating Trends Tuesday, July 01, 2008 6:01 AM
Symbols: DTG
For additional information, visit
http://www.dtag.com.
This press release contains 'forward-looking statements' about our
expectations, plans and performance. These statements use such words as 'may,'
'will,' 'expect,' 'believe,' 'intend,' 'should,' 'could,' 'anticipate,'
'estimate,' 'forecast,' 'project,' 'plan' and similar expressions. These
statements do not guarantee future performance and Dollar Thrifty Automotive
Group, Inc. assumes no obligation to update them. Risks and uncertainties
that could materially affect future results include whether and to what extent
pricing and demand trends for the remainder of 2008 will improve, particularly
in light of low consumer confidence levels and the impact of gasoline prices,
which could have a significant adverse effect on leisure travel in the peak
rental season; the impact of pricing and other actions by competitors,
particularly if demand softens; airline travel patterns, including disruptions
or reductions in air travel resulting from recent airline bankruptcies,
industry consolidation, capacity reductions and pricing actions; the cost and
other terms of acquiring and disposing of automobiles; the financial
performance and prospects of our principal vehicle supplier; our ability to
manage our fleet mix to match demand and reduce vehicle depreciation costs,
particularly as we increase the level of Non-Program Vehicles (those without a
guaranteed residual value) and exposure to fluctuations in the used car
market; our ability to comply with financial covenants and to obtain financing
as needed without unduly restricting operational flexibility and our ability
to manage the consequences under our financing agreements of a default by any
of the Monolines that provide credit support for our asset backed financing
structures, particularly given recent events involving the credit markets and
the downgrade in the credit ratings of certain of the Monolines; the
effectiveness of other actions we take to manage costs and liquidity;
disruptions in information and communication systems we rely on; access to
reservation distribution channels; the cost of regulatory compliance and the
outcome of pending litigation; local market conditions where we and our
franchisees do business; and the impact of natural catastrophes and terrorism.
Forward-looking statements should be considered in light of information in
this press release and other filings with the Securities and Exchange
Commission ('SEC').
SOURCE Dollar Thrifty Automotive Group, Inc.
(Source: PR Newswire )
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