Revenue for the second quarter was $556 million, compared with $555 million in the second quarter 2012.

Adjusted EBITDA for the quarter was $62.2 million, compared with $62.4 million a year ago. Volume and mix was net unfavorable, as business wins were more than offset by the previously announced discontinued customer vehicle in China, less-favorable mix, and capacity-related fixed costs. Favorable net cost performance offset the unfavorable volume and mix.

Adjusted EBITDA margin was 11.2%, unchanged from a year ago.

Net loss of $45.1 million in the second quarter 2013 compared with net income of $7.7 million a year ago. As detailed below, this year’s second quarter included certain items that adversely impacted results by $66.6 million. Excluding these items and comparable items in the second quarter of 2012, diluted adjusted earnings were $1.03 per share, up 29% from 80 cents per share a year ago.

For the full year, Tower is increasing its outlook for diluted adjusted earnings per share by 25 cents or 15% (to $1.90 per share). Revenue is projected at $2.115 billion, $10 million lower than prior outlook because of exchange-rate translation. The outlook for Adjusted EBITDA is increased to the upper end of the prior range (now $210 million), and projected free cash flow is increased to a range of $25-$30 million.

global automobile production volumes;

the financial condition of our customers and suppliers;

our ability to make scheduled payments of principal or interest 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;

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

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

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

our dependence on our largest customers;

pricing pressure from our customers;

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

our ability to integrate acquired businesses;

risks associated with business divestitures; and

costs or liabilities relating to environmental and safety regulations.

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 / (loss) before provision for income taxes and equity in loss of joint ventures

Provision for income taxes

Equity in loss of joint ventures, net of tax

Income / (loss) from continuing operations

Income from discontinued operations, net of tax

Net income / (loss)

Less: Net income / (loss) attributable to the noncontrolling interests

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

Weighted average common shares outstanding

Basic

Diluted

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

Income / (loss) per share from continuing operations

Income per share from discontinued operations

Income / (loss) per share

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

Income / (loss) per share from continuing operations

Income per share from discontinued operations

Income / (loss) per share

Cash and cash equivalents

Restricted cash

Accounts receivable, net of allowance of $2,158 and $4,105

Inventories

Deferred tax asset - current

Prepaid tooling, notes receivable, and other

Total current assets

Property, plant, and equipment, net

Goodwill

Deferred tax asset - non-current

Other assets, net

Total assets

Short-term debt and current maturities of 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, 21,021,912 issued and 20,415,837 outstanding at June 30, 2013 and 20,830,425 issued and 20,247,134 outstanding at December 31, 2012

Additional paid in capital

Treasury stock, at cost, 606,075 shares as of June 30, 2013 and 583,291 shares as of December 31, 2012

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 / (loss)

Less: Income from discontinued operations, net of tax

Income / (loss) from continuing operations

Adjustments required to reconcile income / (loss) from continuing operations to net cash provided by operating activities:

Non-cash restructuring and asset impairments, net

Premium paid on notes redemption and other fees

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 continuing operating activities

INVESTING ACTIVITIES:

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

Deconsolidation of joint venture

Net proceeds from sale of property, plant, and equipment

Net cash used in continuing investing activities

FINANCING ACTIVITIES:

Purchase of treasury stock

Proceeds from borrowings

Repayments of borrowings

Proceeds from borrowings on Term Loan Credit Facility

Partial redemption of notes

Premium paid on partial redemption of notes

Cash resticted for notes repurchase

Debt financing costs

Proceeds from stock options exercised

Noncontrolling interest dividends

Net cash provided by continuing financing activities

Discontinued operations:

Net cash from discontinued operating activities

Net cash from discontinued investing activities

Net cash from discontinued financing activities

Net cash from discontinued operations

Effect of exchange rate changes on continuing 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 and asset impairment charges, net

Depreciation and amortization

Acquisition costs and other

Long-term compensation expense

Interest expense, net

Other expense

Closure of Tower Defense & Aerospace

Provision for income taxes

Equity in earnings of joint ventures

Income from discontinued operation

Net (income) / loss attributable to noncontrolling interests

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

Net cash provided by continuing operating activities

Cash disbursed for purchases of PP&E, net

Free cash flow

Short-term debt and current maturities of 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

Less: restricted cash excluding premium for redemption of Senior Secured notes

Net debt

Expense items included in net income, net of tax:

Cost of sales

Closure of Tower Defense & Aerospace

Selling, general and administrative expenses

Incentive compensation related to funding events

Acquisition costs and other

Restructuring expense

One-time restructuring actions

Plant relocation

Facility closure

Asset impairment charges

Interest expense

Acceleration of the amortization of debt issue costs and OID

Other expense

Partial redemption of senior secured notes

Breakage of Letter of Credit Facility

Provision for income taxes

Valuation allowance in Brazil

Discontinued operations

Income from discontinued operations

Total items included in net income

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

Memo: Average shares outstanding (in thousands)

Basic

Diluted

Income / (loss) per common share (GAAP)

Basic

Diluted

Diluted adjusted income per share (non-GAAP)*