U.S. Axle Manufacturing's Second-Quarter Revenue Growth Plunges

According to overseas media reports, a few days ago the United States AMU axles Manufacturing Holdings Limited released the second quarter of 2012 financial data, its net profit and earnings per share have plummeted, but operating income increased by 7.8%.

AAM's net profit for the second quarter was $4.7 million, a year-on-year drop of 90.4% from $49.2 million in 2011; EPS was $0.06, a year-on-year drop of 90.8% from $0.65 in 2011; operating income was $739.8 million, up from the same period in 2011 6.862 USD increased by 7.8%.

Thirteen analysts surveyed by Reuters had expected AAM's second quarter earnings per share of $0.49 and operating income of $711 million.

According to AAM, the second quarter financial data was affected by special expenses and restructuring costs. AAM shut down the Detroit Manufactures Square and Cheektowaga plant for restructuring in the second quarter, at a restructuring cost of $36.5 million.

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