American Axle & Manufacturing has posted second quarter net income of US$52.2m, more than double the previous figure of US25.8m last year.
Sales were US$946.9m, up 18% on a year-over-year basis, while non-GM sales grew 33.2% on a year-over-year basis to US$298m. Gross profit was US$149m or 15.7% of sales.
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“AAM’s financial results in the second quarter of 2014 reflect strong sales growth and profitability driven by the favourable impact of increased production volumes across many of our major product programs supporting the North American light vehicle segment,” said AAM chairman, president and CEO, David Dauch.
“AAM is energised to continue supporting these and other new global product and process launches during the remainder of this year and continuing through the year 2015.
“Many of these launches feature new advanced driveline technologies that are enhancing the diversification of our business and positioning AAM for solid profitability and consistent free cash flow generation.”
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