Mexican Media Brands
American Axle Hikes Quarterly Sales 22%
American Axle & Manufacturing Holdings Inc. boosted revenue to $737 million in the fourth quarter of 2012 compared with $606 million a year earlier.
#economics
Share
American Axle & Manufacturing Holdings Inc. boosted revenue to $737 million in the fourth quarter of 2012 compared with $606 million a year earlier.
The company netted $320 million compared with $31 million in October-December 2011 largely because of a one-time $338 million tax gain. Operating income, which excludes taxes, slid to $19 million from $49 million a year earlier.
The same factor hiked AAM's net profit to $368 million from $143 million in 2011. Operating earnings shrank to $156 million from $223 million.
Revenue grew 13% to $2.9 billion. Former parent General Motors Co. accounted for only 27% of 2012 sales. AAM's North American content per vehicle dipped 1% to $1,470.
The company warns that its earnings in the first half of 2013 will be dented by costs to prepare for the debut this year of the next-generation Chevrolet Silverado and GMC Sierra fullsize pickups.
But AAM predicts that increased component volume for those models and nearly $1.3 billion of new business will boost revenue 10% by 2015.
RELATED CONTENT
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.