American Axle & Manufacturing Holdings has cut its earnings guidance for the first quarter, blaming the impact of additional production cuts taken by its customers, Dow Jones reported.

The news agency noted that the company had earlier expected customers' production volumes for the major North American light truck programmes it currently supports would be 13% to 14% lower than the first quarter of 2004.

But, in a press release on Wednesday, American Axle reportedly said it now estimates that production volumes will be down 18% to 20% because of additional production cuts. Accordingly, the company expects first-quarter earnings of 25 cents to 30 cents a share.

Last month, the company predicted earnings of 40 cents to 45 cents a share for the period, Dow Jones noted.