American Axle Manufacturing announced the financial report for the third quarter of 2013. The company achieved a year-on-year turnaround in losses, and its operating income also maintained a steady increase.
In the third quarter of this year, U.S. axle revenue reached 821 million U.S. dollars, an increase of 16.8% over the same period last year of 703 million U.S. dollars, of which non-general business generated operating income of 235 million U.S. dollars, up 18.1% year-on-year, in its business operations. The proportion of income climbed to 28.6% from 28.3% in the same period last year.
U.S. Axle’s operating profit for the first quarter soared from US$30.1 million in the same period last year to US$67.5 million, a sharp increase of 124% year-on-year; net profit for the third quarter reached US$31.6 million, which was a loss in the same period of last year. The loss amounted to 8.2 million U.S. dollars.
Judging from the overall performance in the first three quarters of this year, the total revenue from the United States Axle Bridge reached US$2.38 billion, an increase of 8% over the same period of last year, of which revenue from non-GM operations increased from US$589 million in the same period last year to US$647 million. The year-on-year increase was 9.9%.
In the first three quarters of the year, U.S. car companies’ operating profits totaled 174 million U.S. dollars, compared with 138 million U.S. dollars in the same period of last year, an increase of 26.2% year-on-year; and cumulative net profit reached 64.7 million U.S. dollars, which was basically the same as last year.
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