{"id":5473,"date":"2013-02-10T10:06:28","date_gmt":"2013-02-10T14:06:28","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=5473"},"modified":"2013-02-10T10:06:28","modified_gmt":"2013-02-10T14:06:28","slug":"profits-and-revenues-swell-for-american-axle-manufacturing-holdings-inc-nyseax","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/profits-and-revenues-swell-for-american-axle-manufacturing-holdings-inc-nyseax-5473","title":{"rendered":"Profits and Revenues swell For American Axle &#038;  &#038; Manufacturing Holdings Inc. (NYSE:AX)"},"content":{"rendered":"<p>Boston, MA 02\/10\/2013 (wallstreetpr) \u2013 The net earnings of American Axle &amp; Manufacturing Holdings Inc. (NYSE:AX) which designs and engineers driveline &amp; driver train systems soared, the company revealed on Friday. The profits were boosted by stout tax benefits and rising vehicle production, the company said.<\/p>\n<p>The auto supplier earned as much as $319.9 million this quarter and booked as against a $31.1 million net profit for the same quarter in the last fiscal year. The per share earnings came at $4.21 as compared to per share profits of $0.41 for the same quarter in the last fiscal year.<\/p>\n<p>Tax benefits worth $319.9 million were included in the quarterly results of American Axle &amp; Manufacturing Holdings Inc. (NYSE:AX), released recently. Debt related charges of $9.7 million and restructuring costs of $6.2 million were also charged to this year\u2019s earnings. The company booked sales worth $736.7 million during the quarter , only $204.1 of this was attributed to customers other than General Motors (NYSE:GM) which is the company\u2019s principal customer. Overall quarterly revenues rose by 22%; sales to customers other than General Motors (NYSE:GM) hiked by only 17%.<\/p>\n<p>The company has booked profits worth $367.7 million and per share earnings of $4.87 during the year 2012 as against $142.8 million net profit and EPS of $1.89 for fiscal year 2011. Its revenues jumped by 13.4% to $2.93 billion during this period.<\/p>\n<p>The shares of American Axle and Manufacturing Holdings Inc.(NYSE:AXL) were up 3.29% to close at $12.24. The shares of General Motors (NYSE:GM) were up by 0.35% to close at $28.57.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 02\/10\/2013 (wallstreetpr) \u2013 The net earnings of American Axle &amp; Manufacturing Holdings Inc. (NYSE:AX) which designs and engineers driveline &amp; driver train systems [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":5474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[260],"tags":[1610,1611,1609,632],"stock_ticker":[],"class_list":["post-5473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advancers","tag-american-axle-and-manufacturing-holdings-inc-nyseaxl","tag-general-motors-nysegm","tag-nyseaxl","tag-nysegm","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Profits and Revenues swell For American Axle &amp; &amp; Manufacturing Holdings Inc. 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