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American Axle Posts Record Revenue, Profit
Second-quarter sales and gross profit set new record highs for American Axle & Manufacturing Holdings Inc.
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Second-quarter sales and gross profit set new record highs for American Axle & Manufacturing Holdings Inc.
The Detroit-based supplier of drivetrain components reports its net sales for the period rose 8% to $1.9 billion. The company raised its full-year revenue forecast to at least $7.2 billion compared with last year’s record $6.3 billion.
Gross profit in April-June climbed 5% to $331 million. Operating income surged 42% to $190 million, and net income zoomed to $151 million from $66 million.
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