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American Axle Reports 13% Sales Gain
American Axle & Manufacturing Holdings Inc.'s revenue in the fourth quarter of 2013 climbed to $830 million from $737 million a year earlier.
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American Axle & Manufacturing Holdings Inc.'s revenue in the fourth quarter of 2013 climbed to $830 million from $737 million a year earlier. The supplier says 34% of the total came from non-General Motors Co.
Net earnings of $30 million for the period were down from $320 million in the final quarter of 2012, which included a one-time tax gain of $338 million.
AAM's full-year sales rose 9% to $3.2 billion. Net income of $95 million compares with a tax-gain-inflated $368 million in 2012. The company's content per vehicle rose 5% to $1,550 last year.
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