American Axle & Manufacturing said on Friday its quarterly earnings rose as it sold more components to General Motors and other customers, Reuters reported.
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The news agency said the maker of axles, driveshafts and chassis components reported net income of $US54 million, or $1.02 a share, in the first quarter, compared with $US38.8 million, or 75 cents a share, a year ago. Sales rose 14% to a record $975.3 million from $859.2 million.
According to Reuters, analysts on average had expected Detroit-based American Axle to earn $1 a share, according to Thomson First Call.
American Axle in January forecast first-quarter earnings of about $1 a share and full-year earnings of $3.65 a share, Reuters noted.
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