American Axle & Manufacturing Q4 Profit Declines - Quick Facts

(RTTNews) - American Axle & Manufacturing Holdings Inc. (AXL) reported that its net income for the fourth quarter of 2014 declined to $13.2 million or $0.17 per share from $29.8 million or $0.39 per share, in the fourth quarter of 2013.

In the fourth quarter of 2014, the company's results reflected the impact of a non-cash charge of $35.5 million related to the 2014 Pension Payout Offer.

In the fourth quarter of 2013, the company's results reflected the impact of $25.6 million of debt refinancing and redemption costs.

Net sales for the fourth quarter increased 13% to $939.5 million from $831.3 million in the fourth quarter of 2013. Non-GM sales grew 13.2% on a year-over-year basis to $317.2 million in the fourth quarter of 2014 as compared to $280.1 million in the fourth quarter of 2013.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.54 per share and revenues of $924.29 million for the quarter. Analysts' estimates typically exclude special items.