American Axle & Manufacturing (AAM) reported Q1 2012 sales of US$751.5m, an increase of 16.4% on the same quarter last year.
The company said that its net earnings were USD51.2m, up from $37.7m last year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“AAM achieved solid financial results in the first quarter of 2012, with strong sales growth driving higher earnings,” chairman and CEO Richard Dauch said in a statement.
“These results reflect the favourable impact of increased production volumes across many of our major product programmes and sustained improvements in capacity utilisation.”
The figures include restructuring costs of $16.5m mostly relating to the closure of AAM’s Detroit and Cheektowaga factories, he said.
The company noted that its content-per-vehicle in the North American light truck and SUV market was $1,475.
Q1 sales to non-General Motors companies grew by 8.5% to USD193.6m.
