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Article: American Axle & Manufacturing Announces Record Fourth-Quarter And Full-Year 1999 Earnings.
- Article from:
- PR Newswire
- Article date:
- January 26, 2000
CopyrightCOPYRIGHT 2000 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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1999 net sales, net income and EPS at all-time highs
DETROIT, Jan. 26 /PRNewswire/ -- American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) today reported fourth-quarter 1999 net income of $27.5 million, an increase of $12.8 million over the $14.7 million reported in the fourth quarter of 1998. Earnings per share increased 65% to 56 cents on a diluted basis, versus 34 cents per share during the same period the prior year.
Overall revenues increased 17% to $735.8 million for the fourth quarter of 1999 as compared to $629.6 million in the fourth quarter of 1998. The primary factors for this growth are continued strong demand for the company's ...