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Sales, Profits Soar for American Axle
Sales, operating income and net income surged in the first quarter for Detroit-based American Axle & Manufacturing Holdings Inc.
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Sales, operating income and net income surged in the first quarter for Detroit-based American Axle & Manufacturing Holdings Inc.
Net revenue zoomed 77% to $1.9 billion. Operating income jumped 57% to $176 million. Net income climbed 14% to $89 million.
The driveline systems supplier anticipates full-year sales of about $7 billion in 2018 compared with last year’s record $6.3 billion. The company expects passenger vehicles sales in the U.S. will total between 16.8 million and 17 million units.
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