Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


American Axle & Manufacturing Reports Q4 Results (AXL)

Friday, February 8, 2013 11:21 AM
Shares of American Axle & Manufacturing Holdings Inc. (NYSE: AXL) have edged lower in early trading today after the company reported its fourth-quarter and full-year 2012 financial results. Key Points
  • AXL’s fourth-quarter sales rise 21.6%
  • The company’s non-GM sales for the quarter rise 16.6% in the quarter
  • Full-year 2012 sales rise 13.4%
David C. Dauch, President and CEO of American Axle & Manufacturing, said that 2012 was an eventful year for the company, characterized by substantial growth and diversification due to a high level of global launch activity. Dauch said that the company made great strides in executing its diversification initiatives while strengthening its global footprint through its expanding customer and product base. For the fourth quarter of 2012, AXL reported net sales of $736.7 million, representing an increase of 21.6% over the same period in the previous year. Non-GM sales for the quarter rose 16.6% to $204.1 million. For the full year, the company reported net sales of $2.9 billion, representing an increase of 13.4% for the same period in the previous year. Non-GM sales for the full year climbed 11.6%. Operating income for the fourth quarter of 2012 was $18.6 million. Net income for the quarter was $319.9 million, or $4.21 per share. The company’s fourth-quarter results include favorable impact of a $337 million benefit related to the reversal of its valuation allowance against its net federal deferred tax assets for entities in the U.S. Net income for the full year 2012 was $367.7 million, or $4.87 per share. At last check, AXL shares were trading 1.43% lower at $11.68. About American Axle & Manufacturing Holdings Inc. American Axle & Manufacturing Holdings Inc. is engaged in the manufacturing, engineering, designing and validation of driveline and drivetrain systems and related components and modules, chassis systems and metal-formed products for light trucks, sport utility vehicles, passenger cars, crossover vehicles and commercial vehicles.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

Deutsche Bank lawyer found dead in apparent NY suicide: WSJDeutsche Bank lawyer found dead in apparent NY suicide: WSJ
BERLIN (Reuters) - Calogero Gambino, a senior Deutsche Bank <DBKGn.DE> regulatory lawyer, has been found dead in New York in what appears to have been a suicide, the Wall Street Journal reported...
Areva-Siemens raises claim to $4.4 billion over Finnish reactor delaysAreva-Siemens raises claim to $4.4 billion over Finnish reactor delays
HELSINKI (Reuters) - The French-German consortium Areva-Siemens <AREVA.PA><SIEGn.DE>, the supplier of Finland`s much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Fi...
India's finance minister favors interest rate cut: paperIndia's finance minister favors interest rate cut: paper
NEW DELHI (Reuters) - India`s Finance Minister Arun Jaitley favors a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the central bank has s...
China's auto market growth may halve to 7 percent this year: industry body headChina's auto market growth may halve to 7 percent this year: industry body head
SHANGHAI (Reuters) - Growth in China`s auto market, the world`s biggest, will halve to 7 percent this year weighed down by a slowing economy, the head of an industry body said on Saturday. "Personal...
Look to energy names for global demand cluesLook to energy names for global demand clues
NEW YORK (Reuters) - Slumping energy shares drove the recent U.S. stock market selloff more than any other major group, so investors are turning to next week`s slate of earnings to see if the sector...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.