Allison Transmissions Inc.
Allison Transmission Holdings reported its second-quarter net income increased on continued recovery of the North American on- and off-highway markets.
Indianapolis-based Allison earned $57.2 million, or 32 cents per share, up from $50.5 million, or 27 cents per share in the same period in 2013. Revenue rose 5% to $536 million.
On-highway sales in North America increased 13% to $243 million in the second quarter, and off-highway sales jumped 188% to $23 million.
The company said the dramatic rise in off-highway sales was driven by higher demand from hydraulic fracturing uses.
“Our second-quarter 2014 results are within the full-year guidance ranges we affirmed on April 16. Net sales improved on a year-over-year basis for the third consecutive quarter, led by the continued recoveries in the North America on-highway and off-highway end markets partially offset by weakness in the outside North America end markets,” Allison Chairman and CEOP Lawrence Dewey said in a statement.