American Axle & Manufacturing Holdings,(AAM) said net income in the fourth quarter of 2016 was $46.9m, or $0.59 per share versus $62.9m, or $0.81 per share, in Q4 2015.
For the full year, net income was $240.7m, or $3.06 per share ($235.6m, $3.02).
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"In 2016, AAM achieved another year of record sales and gross profit, strong global operational performance, and new business wins that will further drive sales diversification," said chairman & chief executive officer, David Dauch.
Net sales in the fourth quarter of 2016 were $946.5m, down from $958.4m in Q4 2015. Non-GM Q4 sales were $323.0m versus $323.5m.
Net sales for full year 2016 were $3.95bn ($3.90bn). Non-GM sales were $1.29bn versus $1.32bn.
Gross Q4 profit was $176.1m ($159.8m). Gross margin was 18.6% versus 16.7%.
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By GlobalDataGross profit for the full year increased 14.3% to $726.1m. Gross margin was 18.4% compared to 16.3%.
Q4 adjusted EBITDA was $148.2m, or 15.7% ($137.5m, 14.3%). Full year adjusted EBITDA was $619.4m (15.7%) compared to $571.1m (14.6%).
