DETROIT (AP) — DETROIT (AP) — American Axle & Manufacturing Holdings Inc. (AXL) on Friday reported a loss of $13.7 million in its fourth quarter.
On a per-share basis, the Detroit-based company said it had a loss of 12 cents. Losses, adjusted for restructuring costs, came to 6 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
The maker of auto parts posted revenue of $1.38 billion in the period, which met Street forecasts.
For the year, the company reported net income of $35 million, or 29 cents per share, swinging to a profit in the period. Revenue was reported as $6.12 billion.
American Axle expects full-year revenue in the range of $5.8 billion to $6.05 billion.
The company's shares closed at $4.75. A year ago, they were trading at $7.98.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXL at https://www.zacks.com/ap/AXL
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