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American Axle’s 4Q Income Rises

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American Axle & Manufacturing Holdings’ fourth-quarter net income rose to $319.9 million, or $4.21 per share — which included a $337.5 million tax benefit — from $31.1 million, or 41 cents, a year earlier.

Sales rose 21.6% to $736.7 million from the previous fourth quarter, the component maker said.

Full-year net income rose to $367.7 million, or $4.87 per share, from $142.8 million, or $1.89, in 2011. Sales rose 13.4% to $2.93 billion.

Operating income was $18.6 million in the fourth quarter, down from $48.5 million a year earlier, and fell to $156.4 million for the year, from $223.4 million in 2011.

By Transport Topics

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