American Axle & Manufacturing Reports Q4 EPS Of $0.39 - Quick Facts

(RTTNews) - American Axle & Manufacturing Holdings, Inc. (AAM) reported fourth-quarter net income attributable to company of $29.8 million or $0.39 per share, compared to $319.9 million or $4.21 per share, last year. The company noted that its net income in the fourth quarter of prior year included the favorable impact of a $337.5 million benefit, or $4.44 per share, related to the reversal of valuation allowance against net federal deferred tax assets for entities in the United States.

In the fourth quarter of 2013, the company's results reflect the impact of $25.6 million, or $0.32 per share, of debt refinancing and redemption costs. Income before income taxes was $12.5 million, compared to a loss of $20.1 million, prior year.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.48 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased year-over-year to $831.3 million, from $736.7 million. Analysts expected revenue of $864.10 million for the quarter. Non-GM sales grew over 37.2% to $280.1 million.