Revenue for the quarter was $603 million, up 20 percent from $502 million in the second quarter 2010. Excluding changes in exchange rates and steel pricing, revenue was up 9 percent.

Adjusted EBITDA for the quarter was $55.6 million, up 8 percent from $51.7 million a year ago. The improvement was driven by higher volume and favorable foreign exchange, offset partially by less-favorable product mix and the quarterly timing of launch-related costs to support new customer vehicle programs.

Net loss in the second quarter of 2011 was $2.8 million or $0.15 per share. As detailed below, this included certain items that adversely impacted results by $4.2 million. Excluding these items and comparable items in the second quarter of 2010, diluted adjusted earnings per common share were $0.07, compared with a loss of $0.17 a year ago.

Based on favorable results achieved in the first half of the year and presently anticipated revenue that increases confidence in achieving continued year-over-year improvements in the second half, Tower is increasing its outlook for full year 2011 Adjusted EBITDA by $15 million, to a range of $215 to $225 million.

In the high-priority, high-growth China market, the company won important new business and also reached agreement, subject to government approval, on an additional majority-owned joint venture.

automobile production volumes;

the financial condition of our customers and suppliers;

our ability to make scheduled payments on our indebtedness and comply with the covenants and restrictions contained in the instruments governing our indebtedness;

our ability to refinance our indebtedness;

our ability to generate non-automotive revenues;

our ability to operate non-automotive businesses;

our ability to integrate acquired businesses;

our customers’ ability to obtain equity and debt financing for their businesses;

our dependence on our largest customers;

significant recalls experienced by our customers;

pricing pressure from our customers;

potential operating inefficiencies resulting from OEM production volatility;

work stoppages or other labor issues affecting us or our customers or suppliers;

risks associated with our non-U.S. operations, including foreign exchange risks and economic uncertainty;

costs or liabilities relating to environmental and safety regulations; and

any increase in the expense and funding requirements of our pension and other postretirement benefits.

Revenues

Cost of sales

Gross profit

Selling, general and administrative expenses

Amortization expense

Restructuring and asset impairment charges, net

Operating income

Interest expense

Interest income

Other expense

Income before provision for income taxes

Provision for income taxes

Net income / (loss)

Less: Net income attributable to the noncontrolling interests

Net income / (loss) attributable to Tower International, Inc.

Less: Preferred unit dividends

Net income / (loss) available to common shareholders

Weighted average common shares outstanding

Basic

Diluted

Net income / (loss) per share attributable to Tower International, Inc.:

Basic

Diluted

Cash and cash equivalents

Accounts receivable, net of allowance of $3,935 and $1,674

Inventories

Deferred tax asset - current

Assets held for sale

Prepaid tooling and other

Total current assets

Property, plant and equipment, net

Goodwill

Deferred tax asset - non-current

Other assets, net

Total assets

Current maturities of long-term debt and capital lease obligations

Accounts payable

Accrued liabilities

Total current liabilities

Long-term debt, net of current maturities

Obligations under capital leases, net of current maturities

Deferred tax liability - non-current

Pension liability

Other non-current liabilities

Total non-current liabilities

Total liabilities

Stockholders’ equity:

Tower International, Inc.’s stockholders’ equity

Common stock, $0.01 par value, 350,000,000 authorized, 19,101,588 issued and outstanding

Additional paid in capital

Accumulated deficit

Accumulated other comprehensive loss

Total Tower International, Inc.’s stockholders’ equity

Noncontrolling interests in subsidiaries

Total stockholders’ equity

Total liabilities and stockholders’ equity

OPERATING ACTIVITIES:

Net income

Adjustments required to reconcile net income to net cash provided by operating activities:

Non-cash restructuring and asset impairment charges

Deferred income tax provision

Depreciation and amortization

Non-cash share-based compensation

Pension expense, net of contributions

Change in working capital and other operating items

Net cash provided by / (used in) operating activities

INVESTING ACTIVITIES:

Cash disbursed for purchases of property, plant and equipment, net

Net assets acquired, net of cash acquired

Net cash used in investing activities

FINANCING ACTIVITIES:

Repayments of term debt

Partial redemption of senior secured notes

Preferred unit dividends

Proceeds from borrowings

Repayments of borrowings

Net cash provided by financing activities

Effect of exchange rate changes on cash and cash equivalents

NET CHANGE IN CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS:

Beginning of period

End of period

International

Americas

Consolidated

International

Americas

Consolidated

Adjusted EBITDA

Restructuring

Depreciation and amortization

Receivable factoring charges and other

Acquisition costs

Expense related to the compensation programs

Interest expense, net

Premium on redemption of senior secured notes

Gain on Letter of Credit Facility reduction

Provision for income taxes

Net income attributable to noncontrolling interests

Net income / (loss) attributable to Tower International, Inc.

Net cash provided by operating activities

Cash disbursed for purchases of PP&E, net

Free cash flow

Current maturities of long-term debt and capital lease obligations

Long-term debt, net of current maturities

Obligations under capital leases, net of current maturities

Total debt

Less: cash and cash equivalents

Net debt

Income / (expense) items included in net income / (loss), net of tax:

Selling, general and administrative expenses

Incentive compensation related to funding events

Acquisition costs

Interest expense

Acceleration of the amortization of debt issue costs and OID

Settlement of value added tax audit in Brazil

Restructuring expense

Asset impairments

Adjustment of lease liability

Other income

Partial redemption of senior secured notes

Provision for income taxes

Tax law and tax election changes

Total items included in net income / (loss)

Net income / (loss) attributable to Tower International, Inc.

Less: Preferred unit dividends

Income / (loss) available to common shareholders

Memo: Average shares outstanding (in thousands)

Basic

Diluted

Income / (loss) per common share (GAAP)

Basic

Diluted

Diluted adjusted income / (loss) per share (non-GAAP)*