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

'We don't have a magic wand', says ECB's Constancio'We don't have a magic wand', says ECB's Constancio
MADRID (Reuters) - Societies expect too much of central banks and they don`t have a magic wand to boost economic growth, European Central Bank Vice President Vitor Constancio said on Thursday. The E...
Politics clouds proposed overhaul of U.S. housing finance systemPolitics clouds proposed overhaul of U.S. housing finance system
WASHINGTON (Reuters) - The Senate Banking Committee appears likely to back a bill to wind down government-backed mortgage giants Fannie Mae and Freddie Mac, according to sources familiar with talks ...
April U.S. auto sales to rise 8.5 percent: J.D. Power, LMCApril U.S. auto sales to rise 8.5 percent: J.D. Power, LMC
DETROIT (Reuters) - U.S. auto sales will rise 8.5 percent in April from a year ago as spring weather entices consumers to look at new products, industry research firms J.D. Power and LMC Automotive sa...
Angry Muslims in Central African Republic call for partitionAngry Muslims in Central African Republic call for partition
BAMBARI, Central African Republic (Reuters) - In this dusty town at the heart of the Central African Republic, many angry Muslims advocate a simple solution to the threat of religious violence from ...
Vivendi to return 5 billion euros to shareholders after asset salesVivendi to return 5 billion euros to shareholders after asset sales
PARIS (Reuters) - French conglomerate Vivendi <VIV.PA> said it would pay out close to 5 billion euros in dividends and buy backs this year and next, rewarding shareholders after three major as...

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.