CHICAGO -- American Axle & Manufacturing Holdings Inc. on Wednesday said its quarterly earnings rose on productivity improvements and increased light truck production at key customer General Motors.
American Axle, a maker of axles, driveshafts and chassis, said its fourth-quarter net income rose to $53.4 million from $52.2 million a year ago. On a per-share basis, earnings fell to 96 cents from 99 cents a year earlier, when the company had fewer shares outstanding.
American Axle earned 89 cents a share in the year-earlier period excluding a one-time gain of $5.5 million due to insurance proceeds from a fire.
Analysts had expected earnings of 96 cents a share in the latest quarter, with estimates ranging from 92 cents to 98 cents, according to Reuters Research, a unit of Reuters Group Plc.
American Axle, which makes components for such vehicles as the Dodge Ram pickup and Hummer H2 SUV, said its fourth-quarter sales rose 2 percent to $926.1 million.
Sales to non-GM customers in the fourth quarter represented 18.7 percent of total sales, up from 17.7 percent in the fourth quarter a year earlier, American Axle said.